Finance
NFL: Mychal Kendricks faces 8-game suspension insider trading: report
- The Seattle Seahawks linebacker Mychal Kendricks will be
eligible to return to game action during Week 14 of the NFL
season, according to a report from the NFL Network’s Ian
Rapoport. - Kendricks will reportedly be suspended eight games after
pleading guilty to making $1.2 million as the result of an
insider-trading scheme. - Kendricks faces up to 25 years in prison at his sentencing in
December.
An NFL player who has been accused of insider trading is about to
receive his fate from the league, according to a report out
Tuesday.
Mychal Kendricks, the Seattle Seahawks linebacker who in August
pleaded guilty to making
$1.2 million as the result of an insider-trading scheme, will
receive an eight-game suspension, according to a report from
the NFL Network’s Ian Rapoport.
Kendricks, who was suspended October 2, will be eligible to
return to practice during Week 10 of the NFL season and can
return to game action during Week 14, when the Seahawks host the
Minnesota Vikings, Rapoport said.
Federal prosecutors allege that from 2014 to 2015, while
Kendricks played for the Philadelphia Eagles, he paid a friend
named Damilare Sonoiki, who
worked at Goldman Sachs and is also facing insider-trading
charges, $10,000 in cash and kickbacks in the form of things like
tickets to Eagles games in exchange for trading tips.
He has
admitted to participating in insider trading but says he
“didn’t fully understand all of the details of the illegal
trades.”
Kendricks faces up to 25 years in prison when he is
sentenced in December.
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