Mark Wayne Ramsey, Insider Trading, California 2024

Mark Wayne Ramsey, 29, of San Francisco, California, is the latest to face federal charges in a sprawling insider trading scheme that reached from Wall Street to the Philadelphia Eagles locker room. Ramsey was named in an indictment unsealed today in Philadelphia, charged with conspiracy to commit securities fraud and four counts of securities fraud—a case that exposes how confidential financial data was exploited for massive personal gain.

The indictment alleges Ramsey conspired with Damilare Sonoiki, a former analyst at a global investment bank in New York, and Marvin Mychal Kendricks, a former linebacker for the Philadelphia Eagles. Sonoiki allegedly violated his duty of confidentiality by leaking material, non-public information about upcoming mergers involving four clients: Compuware Corporation, Move, Inc., Sapient Corporation, and Oplink Communications LLC. Ramsey, who was Kendricks’ roommate at the time, used this privileged intel to trade illegally.

Between July 2014 and November 2014, Kendricks and Ramsey purchased call options in the targeted companies, using information they knew would soon send stock prices soaring. Each public merger announcement triggered sharp gains in the value of their options. Over the course of the scheme, Kendricks raked in nearly $1.2 million. Prosecutors allege he paid Ramsey $15,000 for his role—funds that now could be subject to forfeiture.

Kendricks gave Ramsey direct access to his brokerage account, deepening the web of collusion. The indictment paints a picture of brazen market manipulation, where insider knowledge wasn’t just shared—it was monetized with precision. The flow of information from a high-powered bank in New York to a pro athlete’s living room in Pennsylvania underscores how easily financial safeguards can be breached by those with connections.

“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 play by the rules,” said U.S. Attorney William M. McSwain. “As alleged, Mr. Ramsey cheated the market, cheated other investors, and placed himself above the law.”

If convicted, Ramsey faces a maximum sentence of 85 years in prison, three years of supervised release, a $20,250,000 fine, and a $500 special assessment. The FBI and Securities and Exchange Commission led the investigation, with prosecution handled by Assistant U.S. Attorney David J. Ignall. An indictment is not a conviction—Ramsey is presumed innocent until proven guilty in a court of law.

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