Mychal Kendricks and Damilare Sonoiki

NFL linebacker Mychal Kendricks was cut by the Cleveland Browns a day after he and a childhood friend were charged with illegally earning about $1.2 million in profits from insider trading.

Kendricks and former Goldman Sachs banking analyst Damilare Sonoiki, both 27, were arrested Wednesday and charged with scheming to buy and sell securities based on tips from insider trading.

Kendricks and Sonoiki were each charged with one count of conspiracy to commit securities fraud. They each face a maximum of 25 years in prison and fines of more than $5 million.

According to a report on Bloomberg.com, Sonoiki leaked nonpublic information to Kendricks about upcoming mergers so he could profit from securities trading after the merger was announced.

The scheme that began in 2014 earned the star linebacker $1.2 million in profits, according to Philadelphia prosecutors.

Kendricks allegedly gave Sonoiki tickets to Philadelphia Eagles games and invited him to the set of a pop star’s music video in exchange for insider information.

“Kendricks paid cash and shared celebrity perks for illegal tips that enabled him to trade and profit on confidential information that the rest of the investing public didn’t have,” Stephanie Avakian, co-director of the SEC’s Enforcement Division, said in a statement.

Prosecutors used text messages and emails to build their case against the two men.

Sonoiki once texted Kendricks in slang language about a $10,000 payment, according to Bloomberg.

“idk when next imma be able to see you … so try to have the bread if you can … the bread in nyc just isn’t the same and I really like my cheesesteaks with the stuff you all have in Philly.”

Kendricks won a Super Bowl ring with the Philadelphia Eagles team who defeated the New England Patriots 41-33 in Super Bowl LII in February.

Sonoiki, a Harvard graduate, worked as a writer on the hit ABC sitcom “Black-ish” during the 2015-16 season. He resigned from Goldman Sachs to move to Hollywood 3 years ago, because he said he wanted a new challenge.

Kendricks apologized to his family, friends, fans, and team in a lengthy public statement on Wednesday:

Mychal Kendricks statement

Photos by Ethan Miller/Getty Images, Mitchell Leff/Getty Images

  • hi-liter

    Fellow NFL players better get that “list” together that was suggested by their Nemesis.

  • Soon2BWife

    ?????

  • Malcom Flex

    Well…thats better than being a stick up goon! White collar crime…somebody dropped a dime on them that’s how they got caught!

  • Renee26

    Proofreading helps…did the attorney review this letter beforehand?? Lol

    He can do his bid and get out and have a successful career again… Ask Martha

  • KLove

    Interesting….I wonder how they got jammed up….$1.2 million is chump change when I think of insider trading….im curious as to how this got on the SEC’s radar.

  • Renee26

    Somebody told because that text up top wasn’t very finger pointing….well I couldn’t crack the code ?

  • Li-Wright

    Wow! If the FBI doesn’t get you for lying, they’ll get you for inside trading.

  • KLove

    OK…..I had to do a little more research on this one.

    Kendricks opens an investment account with $80,000….within four months, he profited 1.2 mil from options trading on 4 companies, all with advising ties to Goldman Sachs….a 1500% return in only 4 months is sure to raise the ire of the SEC

    I guess when you make too much money, too fast….that causes the feds to be all up in yo ish!!

  • A D N

    A good apology goes a longggg way…hint hint to 45. It’s storming now for him, but the sun will shine again. (Although thunderstorms get a bad association. I prefer a good thunderstorm than the sun every once in a while).

  • A D N

    My first thought was someone told. This is how majority of crimes are solved…with help.

  • the guest

    Which is the photo of Mychal Kendricks?

    They didn’t give someone their cut and they got ratted out.

  • Malcom Flex

    Yup thats prolly what happened because white boy ballers do that day in and out`and never get caught.

  • Trey

    oh well..he’ll get past it

  • Mr.LeBrickJames

    Sorry, I got no sympathy for this brotha. If the Feds sent Martha Stewart to prison over insider trading, you know this ninja’s going to do some prison time too.
    Dude made over $20 million in his NFL career and it still wasnt enough. Greed will get you every time.

  • Mr.LeBrickJames

    Yup. And they have systems and software in place that can scan the market and automatically flag certain suspicious trading patterns.
    It’s really, really hard to get away with this without the Feds noticing. But people keep trying… and they keep getting caught.

  • Coy little wink

    Martha went to jail for perjury tho..

  • Coy little wink

    How do you go from winning the super bowl to playing with the brownies to jail ?

  • Mr.LeBrickJames

    That’s not what I saw when I looked it up
    https://www.sec.gov/news/press/2003-69.htm

  • Coy little wink

    That link describes the charges…not what she was convicted of…conspiracy, obstruction and lying to the feds

  • Mr.LeBrickJames

    You’re nitpicking here, and missing the point. My comment was that “the Feds sent Martha Stewart to prison over insider trading”.
    Whatever the final charges she was convicted of is irrelevant. It was an insider trading case, and her conviction is related to insider trading. Hence, my point remains: “the Feds sent Martha Stewart to prison over insider trading”

  • Coy little wink

    Lol…you might be right…I’m sorry I just like accuracy. The feds charged her with securities fraud yes…

  • Faux Gibbler

    Make a deal with the feds.. you’ll get a couple months in prison.

  • bemetoo

    them yts told on him

  • Faux Gibbler

    People get charged everyday for this only made the news cuz they famous.

  • Renee26

    Dumb ass probably didn’t know after all then lol

  • http://sandrarose.com SandraRose

    LeBrick is right. The securities fraud charge stemmed from insider trading.

  • http://sandrarose.com SandraRose

    Mychal is the one with the Eagles uniform on and the football in his hand.

  • KLove

    Nope….all his homeboy probably told him was something like “Yo…..I got a way to get us some quick extra bread…just open an acct in your name and put 80 stacks in it, and get with me in a few months”

  • Alextra Ballard

    Line to the Feds in its self is a crime..you can do some jail time

  • Alextra Ballard

    One of the 7 deadly sins is GREED!

  • TheOwley

    I don’t understand how people rise to these levels only to crap it away. There is only one rule: Keep your money safe, mingle with nice people, listen to your gut and avoid bad people, nothing good happens after midnight, be a boy scout, and protect yourself from those that want a piece of you. Is this that hard.

  • KLove

    LOL that was like 7 rules!!

  • http://www.instagram.com/yeuphonic @yeuphonic

    Always remember…pigs get fat, hogs get slaughtered. – tax lawyer quote not mine.
    He got too greedy with his hogging ass.

  • DeeFromLA

    I was thinking the same damn thing. Epic fail

  • missmiami305
  • Darkandlovely617?

    This still cracks me up, can’t believe it hasn’t happened to current yet
    ?

  • missmiami305

    Who u telling???. This was back when I thought t couldn’t get any worse. Lawd hammers you were we all wrong ????.

  • Malai

    ?????????

  • Malai

    So you throw a career In the NFL away over 1.2 mil? THATS IT? ? he could wipe his ass wit that money… dummy ?

  • free

    exactly.

  • Li-Wright

    OT: Aretha’s all day celebration: https://www.youtube.com/watch?v=zAqXL4N96aM
    Patti Labelle performed!

  • Li-Wright
  • dontgetblocked

    He’ll be doing some federal time. When it’s all said and done, he’ll be broke. SMDH!

  • dontgetblocked

    It was linked to Insider trading just like Bill Clinton was impeached for perjury.

  • WutizstillHERE!

    John McCain had a nice funeral…but Aretha Franklin isn’t having a funeral…THIS RITE HERE BOUT TO BE A FEWNRAL! I hope it is televised! I have my red heels on in honor and here for it all!!
    RIH to the Legend the Master of Soul The QUEEN!!

  • dontgetblocked

    There are check systems in place to monitor all accounts. Every firm trains its employees on what the red flags. If a worker sees or hear something slightly off, they’re urged to report it. Also, there are compliance managers who review accounts or anything that seems out of the norm. Making 1.2 million off of 80,000 in four months would be cause for a review. If an employee lets this go and doesn’t report it, they can be held liable later. Brokerage firms are out to protect themselves and not get fined by the SEC. They scare their employees into snitching on each other.

  • sunni_daze

    Delete delete delete. You have to delete at least make them work for the arrest.

  • sunni_daze

    It is and I brought in my tablet to watch. This gonna be a homegoing for the books.

  • WutizstillHERE!

    Yep and the church is going to live stream it
    greatergrace.org

  • ?? Kari ?????????

    It’s always someone else’s fault.

  • Phillybruh

    Them Africans always gotta scheme.

  • Jordan’s Memory

    That’s what I was thinking. Him and his friend all that education and opportunities to just in up in jail or with a criminal record? smdh

  • Jordan’s Memory

    This was hilarious! lmao The sad thing is I would rather have this dummy in office instead of Donald Dump right about now. smdh

  • Jordan’s Memory

    speaking of Greed I’m sure this story will appear on American Greed. smdh

  • DETROITTOATL

    I am surprised bullets haven’t flew at Trump yet.

  • Carrington

    Greed will get you every time. People don’t know how to hit a lick and take that and do the right thing and make it work for them… they hit a lick and get comfortable so they want to hit another one and another one and another one. If you make $100K selling drugs… take $50K and invest it, take the rest an build yourself a business and become legit and leave that hood shit behind you… dummies. “They” do it all the time.

  • Alextra Ballard

    He’s black so you know it will be!

  • Yui

    That’s messed up.

  • WutizstillHERE!

    The problem with greed is you have blinders on and don’t see the bigger picture! I had a friend that was a real live narcissist. She had her own business right..but she would scheme to get more money like she told me about a fake raffle she had for $10 a pop to win one of those curved 60′ flat screen tv. She claimed someone won and posted that they did..but in actuality, the picture was of her sisters older daughter standing next to the tv in her house! SMH.. https://uploads.disquscdn.com/images/0a21f5327c592d9df2783ee803a094213fbf865e6bae306c2af334e00c586548.gif

  • Jussjess25

    So ????? Martha did they samething and was sent to a country club prison.

  • Ni Ni

    A fool and his money.

  • sunni_daze

    YT live has the stream now

  • dru and neil

    They both had so much to lose, why chance it? You already have so much going for you but never satisfied. Was it the thrill of feeling like you outsmarted people because it can’t just be about the money, look at Martha Stewart. I read that her insider trading had a lot more to do with control than greed.

  • ZRoJoTheLezBeyond
  • http://sandrarose.com SandraRose

    She invested in a drug company that applied for FDA approval for a new drug but the approval was denied. Her broker gave her the heads up that the drug was not coming to market. So she sold her stock in the company before the FDA’s decision was announced publicly. Her broker saved her from losing a ton of money, but she went to prison.

  • AmericanDream

    Cool story , I’m sure ‘them Africans ‘ are responsible for the out of control homicide rates In America

  • Malai

    Are you serious?!!!! That’s sooo dirty.. oml.. I wouldn’t want that karma on my hands

  • Phillybruh

    WTF does that have too do with anything…lol

  • dru and neil

    I remember the loss was in the six figures but for a woman worth as much as she’s worth, I still don’t understand why she took the risk. That money wasn’t worth jail time and a felony record.