Former NFL player Mychal Kendricks faces 25 years in prison after pleading guilty to insider trading on Thursday.
The linebacker pleaded guilty in a Philadelphia courtroom to using insider stock tips to enrich his financial portfolio. He also admitted to swapping cash, NFL tickets and access to parties with a Wall Street buddy for the nonpublic market-moving information.
Prosecutors said Kendricks made $1.2 million in profit off the trading.
Philly.com reported from the courtroom on Thursday, quoting Kendricks explaining his guilty plea to the judge. "Because I know I was wrong," he said. "I know that I made the decision to accept information, secret information, and it wasn't the right thing to do."
Once a player for the Super Bowl champion Philadelphia Eagles, Kendricks had recently moved to the Cleveland Browns before the team released him in August after he was charged.
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