Strongside Linebacker Unable to Block Federal Indictment for Insider Trading

Damilare Sonoiki, 27, of Beverly Hills, California, and Marvin Mychal Kendricks, 27, of Fresno, California have been indicted in federal court for insider trading.

Per the court, from July 2014 to approximately March 2015, Sonoiki and Kendricks conspired to commit securities fraud. At the time, Sonoiki was a junior analyst at a major global investment bank in New York. He provided material non-public information to Kendricks, then a linebacker for the Philadelphia Eagles. This information revolved around upcoming mergers involving four unnamed investment bank clients of Sonoiki’s employer.

Sonoiki unhesitatingly obtained, utilized and disseminated the sensitive information. In doing so, Sonoiki was in violation of his fiduciary responsibility to his investment bank employer.

NFL Player Didn’t See This Coming

Kendricks acted on the information by purchasing call options for the M&A target companies: Compuware, Move, Sapient and Oplink.