Former Browns LB Mychal Kendrick suspended from NFL indefinitely

Posted: 5:39 PM, Oct 02, 2018
Updated: 2018-10-02 23:08:27Z

Former Browns linebacker Mychal Kendricks has been suspended indefinitely from the NFL for insider trading, according to ESPN's Adam Schefter

Kendricks was released by the Browns in August after he was charged with using insider trading tips to make more than $1 million in illegal profits. He pleaded guilty to the charges last month.

RELATED: Former Browns LB Mychal Kendricks signing with Seahawks

The Seattle Seahawks picked Kendricks up last month, signing him to a one-year deal.

In a statement released by his lawyer, Kendricks said he was sorry and takes full responsibility for his actions.

“While I didn’t fully understand all of the details of the illegal trades, I knew it was wrong, and I wholeheartedly regret my actions,” Kendricks said in the statement.

Kendricks, 27, faces up to 25 years in prison. Kendricks "leveraged insider stock tips to fatten his already enviable financial portfolio," reported .