Wednesday 29 August 2018 16:19, UK
Cleveland Browns linebacker Mychal Kendricks has been charged with insider trading by United States federal authorities.
Kendricks, who joined the Browns as a free agent earlier this summer, is charged along with television writer Damilare Sonoiki, a former partner at a global investment bank.
The charges were confirmed on Wednesday morning in Philadelphia by US Attorney William M. McSwain.
They relate to the time when Kendricks was a member of the Philadelphia Eagles, who he left as an unrestricted free agent after winning Super Bowl LII in February.
In a statement released by his attorney, Kendricks said: "I apologise. Four years ago, I participated in insider trading, and I deeply regret it.
"I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence.
"To that point, I had worked my tail off since I was five years old to become the football player that I am today. I was drawn in by the allure of being more than just a football player.
"While I didn't fully understand all of the details of the illegal trades, I knew it was wrong, and I wholeheartedly regret my actions.
"Since the beginning of the investigation, I have fully cooperated with all of the authorities and will continue to do so. I accept full responsibility for my actions. Although I did not take any of the profits for myself, I am committed to repaying all of the funds gained illegally and accept the consequences of my actions."
