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Cleveland Browns linebacker Mychal Kendricks was released by the NFL team Wednesday night Kellen Winslow Jersey , hours after he was charged by federal prosecutors in Philadelphia with insider trading.

Kendricks, who signed a one-year contract with the Browns in June after winning a Super Bowl title last season with the Eagles, allegedly used tips from an acquaintance to make about $1.2 million in illegal profits on four major trading deals, federal prosecutors said.

The 27-year-old issued a statement earlier in the day admitting to his guilt and apologizing. He expressed regret and accepted “full responsibility” for his actions.

However, the Browns decided after learning more about the case that they couldn’t go forward with Kendricks, who was going to start for the team. The Browns issued a statement after traveling to Detroit for Thursday night’s exhibition finale against the Lions. Kendricks did not make the trip.

“Prior to signing Mychal, we were informed that there was a financial situation that he had been involved with in 2014,” Browns general manager John Dorsey said. “We were told Mychal had fully cooperated with investigators as a victim. From what was communicated at that time and based on the numerous questions we asked and further due diligence on our part, including checking with the league office, there was no information discovered that conveyed otherwise.

“Recently, we were provided an update on the matter and the circumstances have changed. We are now dealing with a different set of facts and the additional information we’ve gathered has led us to the decision to release Mychal from our team.”

Kendricks is facing possible prison time and further discipline from the NFL for violating its personal conduct policy.

NFL spokesman Brian McCarthy said the league is reviewing the situation.

Prosecutors allege his co-defendant, Damilare Sonoiki, was paid $10 Ryan Jensen Jersey ,000 in kickbacks in the scheme from 2014-2015, as well as perks like tickets to Eagles games and tagging along to a music video shoot or nightclub appearances, said U.S. Attorney William McSwain.

Sonoiki had been working as a junior analyst at an unnamed investment bank in New York, prosecutors said. An IMDB profile lists him as a former writer on the popular TV series “Black-ish” as well as other movies and TV shows.

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,” he said in the statement. He also claimed he didn’t take any of the profits for himself but didn’t elaborate on where the money went. I am committed to repaying all of the funds gained illegally and accept the consequences of my actions.”

Kendricks said he has been cooperating with authorities since the investigation began.

McSwain along with representatives from the FBI and the Securities Exchange Commission— which filed a separate complaint — said Kendricks and Sonoiki used coded language in messages to try to hide their actions. McSwain said Sonoiki, who had limited trading powers at the time, would gave non-public information to Kendricks about acquisitions and other deals that would affect the price of securities for at least four different companies.

Stephanie Avakian, co-director of the U.S. Securities and Exchange Commission’s Division of Enforcement, said in one message when Sonoiki was asking for payment, he told Kendricks that he liked Philadelphia bread used in cheesesteaks more than the bread in New York and asked that Kendricks bring him some.

They also had a conversation pretending to be talking about changing the number on Kendricks’ jersey to 80 Junior Seau Jersey , meant to signify the amount of money that should be deposited into a new trading account, she said.

If the men are convicted, they could face up to 25 years in prison and a fine of up to $5.25 million as well as the seizure of any profits made from the insider trading.

The Browns signed Kendricks as a free agent, bringing him in to upgrade their linebacker corps following an 0-16 season. Kendricks spent six years with the Eagles, who drafted him in the second round in 2012 after he played at California.

The 5-foot-11, 240-pounder recorded a team-high eight tackles in last season’s NFC Championship against Minnesota and had four in Philadelphia’s Super Bowl win.

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LAST YEAR: Seattle missed postseason for first time since 2011 and injuries and depth issues caught up with aging core. Once-vaunted defense took significant step back and offense that had been best at running was downright dreadful. Seattle had one rushing TD last year by running back and QB Russell Wilson again spent large portions running for his safety. That Seattle won nine games and was in playoff conversation into late December was remarkable.

IMPORTANT ADDITIONS: Rookie RB Rashaad Penny, WR Brandon Marshall, WR Jaron Brown, TE Ed Dickson, OL D.J. Fluker Kyle Van Noy Jersey , DT Tom Johnson, DT Shamar Stephen, rookie DE Rasheem Green, LB Barkevious Mingo, rookie LB/DB Shaquem Griffin, K Sebastian Janikowski, K Jason Myers, offensive coordinator Brian Schottenheimer, offensive line coach Mike Solari, defensive coordinator Ken Norton Jr.

IMPORTANT LOSSES: RB Eddie Lacy, WR Paul Richardson, TE Jimmy Graham, OL Luke Joeckel Delano Hill Jersey , DE Cliff Avril, DE Michael Bennett, SS Kam Chancellor, CB Richard Sherman, offensive coordinator Darrell Bevell, offensive line coach Tom Cable, defensive coordinator Kris Richard.

CAMP NEEDS: Happy Earl Thomas is good place to start. Thomas held out from offseason activities and has said he will not take part in team functions until contract situation is addressed. Thomas' deal expires after season. Who will be Seattle's No. 2 wide receiver? Tyler Lockett, now fully healthy after broken leg suffered late in 2016? Veteran Brandon Marshall after injury-filled 2017? Seattle must also find pass rush after departures of Bennett and Avril. Frank Clark can't do it alone.

EXPECTATIONS: Different than they've been since first couple years of Pete Carroll's tenure. Seattle clearly decided to refresh locker room this offseason. Gone are big personalities of Sherman and Bennett. Also gone: lots of talent, a void that may not be filled immediately. There is optimism about Seattle's rookie class, but for first time since 2013 Seahawks don't go into season as one of favorite.
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