(ESPN) Free-agent linebacker Mychal Kendricks was sentenced Thursday to one day in jail, three years of probation and 300 hours of community service as a result of his 2018 guilty plea to insider trading charges.
Kendricks had pleaded guilty to one count of securities fraud and one count of conspiracy to commit securities fraud. He previously had agreed to repay the money he made off the illegal trades.
According to the Securities and Exchange Commission complaint, a Goldman Sachs investment banking analyst, Damilare Sonoiki, illegally fed Kendricks information in 2014 about corporate acquisitions that his bank was advising before those deals were publicly announced. The complaint alleges that those tips helped Kendricks make about $1.2 million in illegal profits by purchasing securities in four companies that were about to be acquired. Sonoiki also pleaded guilty to securities fraud in September 2018.
Kendricks, who is 30, was a member of the Philadelphia Eagles at the time of the illegal trades, having been drafted by the team in the second round in 2012. He was released in May 2018, signed a one-year deal with the Cleveland Browns the next month and was released by Cleveland after the charges were announced in August.
