Former investment banker accused of insider trading with ex-Eagle Mychal Kendricks pleads guilty
The former investment bank analyst who enlisted onetime Eagles linebacker Mychal Kendricks in a million-dollar insider trading scheme pleaded guilty on Wednesday to securities fraud.
Damilare Sonoiki, 27, a Harvard-educated Wall Street analyst turned sitcom writer, admitted feeding Kendricks confidential financial information between 2014 and 2015 about pending mega-deals that sent stock prices soaring. In the end, Kendricks profited about $1.2 million and paid off Sonoiki with $10,000 and access to exclusive events.
Kendricks, who spent six seasons with the Eagles before being released in the spring, pleaded guilty to similar charges on Sept. 6.
At the hearing Wednesday, U.S. District Judge Gene E.K. Pratter asked Sonoiki why he was pleading guilty to conspiracy to commit securities fraud.
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