Cleveland Browns outside linebacker Mychal Kendricks is facing 8-12 months jail time for insider trading according to attorney and legal analyst David Weinstein via CBS Sports' Cody Benjamin.

It adds that advisory sentence would likely be higher but reduced by split sentence, house arrest, community service and more.

The U.S. attorney announced earlier today that Kendricks and 'Black-ish' TV writer Damilare Sonoiki are being indicted by federal authorities on insider trading charges.

"We are here to announce criminal charges of insider trading against Domilare Sonoiki, a former associate at a global investment bank with headquarters in New York City and currently a resident of California, and Mychal Kendricks, a former Philadelphia Eagles linebacker and current member of the Cleveland Browns...Each has been charged with one count of conspiracy to commit securities fraud and one count of securities fraud," the United States attorney said in a video from NBC News on Twitter.

The Browns were not aware of the insider trading charges against Kendricks when they signed him according to NFL Network's Mike Garafolo. According to Mary Kay Cabot, the team was aware that Kendricks was a part of a Federal investigation but were not aware that he was the target of said investigation.

Kendricks is alleged of having profited $1.2 million in exchange for $10,000 in cash and tickets to Eagles games. He has admitted to the acts and taken responsibility for his actions.

"I would like to apologize. Four years ago, I participated in insider trading, and I deeply regret it. I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence. To this point, I had worked my tail off since I was 5 years old to become a football player. I was drawn in by the allure of being more than just a football player. While I didn't fully understand all of the details of the illegal trades, I knew it was was wrong, and I wholeheartedly regret my actions," Kendricks wrote.

Training camp is complete and the season is right around the corner. Sign up for Browns247's FREE email newsletter and do not miss any news!

The team released the following statement:

"We are aware of the situation and in communication with the league office as we gather more information. Mychal will not make the trip to Detroit. We will comment further at the appropriate time."

Cleveland signed Kendricks to a one year deal worth $2.25 million in June. The former second round choice had spent the first six years of his career with the Philadelphia Eagles before asking for his release this off-season.

A year ago, he recorded 93 tackles and two sacks for the defending champions.