SEC v. Damilare Sonoiki and Mark Wayne Ramsey (insider trading, 2022)

Judgment entered

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In September 2022 the SEC announced final consent judgments against former investment banking analyst Damilare Sonoiki and Mark Wayne Ramsey, a friend of ex-NFL player Mychal Kendricks, over trading on merger tips. Sonoiki was ordered to pay a $15,000 penalty.

The record

What was ordered

Civil penalty

$15k

Disgorgement

—

Prejudgment interest

—

Total relief

$15k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced the judgments on September 27, 2022 as litigation release 25524; the court entered them on August 30 in the Eastern District of Pennsylvania.

The SEC alleged Sonoiki tipped Kendricks about upcoming mergers and that Ramsey obtained the information from Sonoiki and traded in Kendricks's account. Sonoiki pleaded guilty and was sentenced to one month; Ramsey was convicted at trial and sentenced to 60 days. Both are enjoined.

The earlier record named a single defendant, 'Kendricks, et al., Mark Wayne Ramsey', and carried no penalty; Kendricks himself was resolved in 2020.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2022-09-27 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.