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Ex-Goldman Sachs analyst sentenced to 1 month in prison for insider trading

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The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid

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WASHINGTON, July 29 (Reuters) - A former analyst for Goldman Sachs (GS.N) and a writer for the television show "Black-ish" on Thursday was sentenced to a month in prison and a $5,000 penalty for an insider trading scheme in which he gave non-public information to an NFL football player.

A federal judge in Pennsylvania also sentenced the former analyst, Damilare Sonoiki, to three years of supervision after his release and 225 hours of community service, a spokesperson for the Department of Justice said. Sonoiki will also pay a $5,000 fine, his attorney said.

Sonoiki was charged in August 2018 with leaking information about pending mergers and acquisitions to Philadelphia Eagles linebacker Mychal Kendricks in exchange for cash and tickets to games. Sonoiki and Kendricks both pleaded guilty in September 2018.

"He is disappointed that he has to do some jail time," Sonoiki's lawyer Mark Wilson told Reuters. "He certainly has expressed his remorse for his conduct for some time. He knows it was a huge mistake."

From July 2013 to May 2015, Sonoiki shared details about a merger of advertising firm Publicis with marketing firm Sapient Corp and other pending deals with Kendricks, who then bought shares of the stocks before they rose on news about the deals.

"Protecting confidential information is our highest priority and we condemn Mr. Sonoiki's behavior," a Goldman spokesperson said.

Reporting by Chris Prentice; Editing by Aurora Ellis and Leslie Adler
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