Tottenham Hotspur: Joe Lewis expected in New York court on Wednesday after being indicted over alleged insider trading
Joe Lewis has been indicted for allegedly orchestrating «brazen» insider trading scheme; US Attorney: «We allege he used insider information to compensate his employees or to shower gifts on his friends and lovers»; Lewis to defend charges «vigorously»
Wednesday 26 July 2023 16:27, UK
Joe Lewis, whose family trust owns Tottenham Hotspur, is expected to appear in a New York court on Wednesday after being indicted over alleged insider trading.
Lewis, who was accused of orchestrating a «brazen» insider trading scheme by the US attorney in Manhattan late on Tuesday night, has surrendered to US authorities.
In a video posted on messaging platform X, formerly known as Twitter, Damian Williams said: «Today I'm announcing that my office, the southern district of New York has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme.
»We allege that for years Joe Lewis abused access to corporate board rooms and repeatedly provided inside information to his romantic partners, his personal assistants, his pilots and his friends.
«Those folks then traded on that inside information and made millions of dollars on the stock market. Thanks to Lewis those bets were a sure thing.
»None of this was necessary. Joe Lewis is a wealthy man, but as we allege he used insider information to compensate his employees, or to shower gifts on his friends and lovers.
«That's classic corporate corruption. It's cheating and it's against the law.»
Lewis' lawyer, David Zornow, said the government had «made an egregious error in judgment in charging Mr Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment».
He added that Mr Lewis had come to the US voluntarily to answer the «ill-conceived»
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