If convicted, each defendant faces a maximum possible sentence of 25 years’ imprisonment, a three-year period of supervised release, a $5.25 million fine and a $200 special assessment. They may also have to forfeit all of the proceeds from their offenses.
“When individuals engage in insider trading — buying and selling securities based on material, non-public information — it undermines faith in our financial markets and harms ordinary investors who do play by the rules,” said U.S. Attorney William McSwain. “As alleged, Mr. Sonoiki and Mr. Kendricks cheated the market, cheated other investors and placed themselves above the law.”
