August 29, 2018

American football player and investment bank analyst charged with insider trading

The Securities and Exchange Commission has filed insider trading charges against Mychal Kendricks and Damilare Sonoiki.  The former, a professional football player, allegedly earned $1.2 million trading based on confidential, material non-public information communicated to him by Sonoiki, who was at that time an investment bank analyst.  Kendricks allegedly gave Sonoiki cash, NFL tickets, and celebrity perquisites in exchange for the information.  Criminal charges based on the same transactions have been filed against both men by the US Attorney’s Office for the Eastern District of Pennsylvania.

SEC press release | SEC complaint | Timeline graphic