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LB Mychal Kendricks Cut by Browns After Insider Trading Charges

White collar crime doesn't sit well with the Browns -- the team just released linebacker Mychal Kendricks in the wake of his insider trading charges.

Kendricks has admitted to breaking federal laws by trading perks for tips in a scheme to make an ill-gotten fortune. Officials say Kendricks turned $80k into roughly $1.2 million using private information that wasn't available to the public.

Kendricks issued a public apology for his role in the scheme -- accepting blame and saying he's ready to deal with the consequences.

Those consequences could be steep -- he's facing serious prison time if convicted.