Yeesh..

Per Ian Rapoport:

More details after the jump:

And from Philly.com:


U.S. Attorney William M. McSwain announced the charges at a news conference at his offices in Center City.

Kendricks’ attorney, Michael Schwartz, said the linebacker, who now plays for the Cleveland Browns, is expected to plead guilty in the coming weeks.

I’ll update with more info when it comes in.

Edit:

Authorities say he made $1.2 million from the trading.

And here’s more from NBC 10:

Sonoiki set up a bank account that Kendricks could access, according to investigators. Soon after they began their trading and used coded language in a text to disguise the initial $80,000 transfer into the account.

Kendricks paid Sonoiki in cash during in-person meetings, including one at Philadelphia’s 30th Street Station.

“Within a year of beginning his employment at the investment bank, he was brazenly committing crimes,” McSwain said. “He is alleged to have passed material non-public info to an acquaintance, Mr. kendricks.”

Edit 2: A Statement from the Browns:

Edit 3:

haha –

If you want to read the full 24 page document, here’s the link:

Mychal Kendricks insider trading charges

Edit 4:

Apparently the Browns were cool with this…

Really? A guy told you about insider trading and you signed him anyway? Lemme get some of that on Hard Knocks.

Also, here’s video of U.S. Attorney William McSwain discussing the charges:

Edit 5:

conflicting reports –