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Insider Trading in the NFL

Mychal Kendricks faces up to 25 years in prison for insider trading.

Mychal Kendricks faces up to 25 years in prison for insider trading.

Andrew Porterfield, Editor-in-Chief

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In late August, the Cleveland Browns were involved in yet another off-field controversy that shadowed the beginning of the season. Mychal Kendricks, a Super Bowl winning linebacker with the Philadelphia Eagles, was charged with insider trading after an extensive investigation dating back to 2015.

Kendricks allegedly teamed up with Damilare Sonoiki, a Goldman Sachs junior analyst at the time, to make around 1.2 million dollars through four different major trading schemes. Kendricks paid Sonoiki upwards of $10,000 in kickbacks and was given special perks, such as tickets to Eagles games.

Knowing an investigation was ongoing, the Browns still decided to sign Kendricks this offseason. This raises questions as to why, because this one insider trading charge could put Kendricks in prison for 25 years. In recent years, the Browns have been riddled with controversy, such as the fall of Johnny Manziel and the numerous fallbacks of Josh Gordon. They did release Kendricks after charges were filed on August 29th, 2018.

While this is a pretty rare charge amongst players in the sports world, we must wonder how often this kind of thing occurs among players and traders.

Sentencing is set for December 18th, 2018.

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Insider Trading in the NFL