PHILADELPHIA (WTXF) - Former Eagles linebacker Mychal Kendricks appeared in federal court in Philadelphia Thursday afternoon. He plead guilty to one count of conspiracy to commit securities fraud and one count of conspiracy fraud.
The 27-year-old admitting to insider trading back in 2014 that netted him almost 1.2 million dollars in illegal profits.
When asked by the judge why he was pleading guilty, Kendricks said, "Because I know I was wrong. I know I made the decision to accept secret information and it wasn't the right thing to do."
Neither he nor his attorney had any comment outside the courtroom.
Kendricks has agreed to pay back the money as part of his guilty plea agreement Thursday. He has said in previous statements that he regrets his actions and takes full responsibility.
"The maximum penalty is 25 years in prison and a fine of more than 5 million dollars—total maximum possible—obviously sentencing guidelines will determine where the judge has her starting point and those will probably be significantly lower," Assistant U.S. Attorney David Ignall said.
He has said in previous statements that he regrets his actions and takes full responsibility.
Kendricks who spent 6 years with the Eagles was released on his own recognizance on $200,000 bond. He had to surrender his passport and cannot leave the continental U.S. Kendricks will learn his fate at his sentencing in December or January.
Former @Eagles Mychal Kendrick’s pleads guilty to conspiracy to commit securities fraud and securities fraud in federal court in Philadelphia in connection with insider trading that made him close to 1.2 million dollars. Kendrick’s also agree to pay back money @FOX29philly— Dawn Timmeney (@DawnFox29) September 6, 2018