The Cleveland Browns have released linebacker Mychal Kendricks after he was charged Wednesday with insider trading by federal prosecutors to make nearly $1.2 million in illegal profits on four major investments four years ago.
In a statement, the Browns said they were aware of Kendricks' involvement prior to signing him to a one-year deal in June, but "circumstances have changed" and the team has elected to release him.
Kendricks apologized earlier Wednesday in a statement shortly after the announcement by U.S. Attorney William McSwain, admitting to insider trading and saying he accepts "full responsibility for my actions" and that he "knew it was wrong.