Tottenham Hotspur respond after owner Joe Lewis charged with alleged insider trading in US
Joe Lewis, the chief behind the ENIC group that own Tottenham Hotspur, has been indicted in New York over allegations of insider trading.
The 86-year-old, one of Britain’s richest men, has been charged with what is described as "brazen" insider trading, in which he is alleged to have given information to associates, including his pilots, romantic interests, employees and friends, regarding companies where he was an investor. He is also alleged to have lent some of these associates hundreds of thousands of dollars to trade on the information.
Lewis faces a 19-count indictment that consists of 16 counts of securities fraud and three counts of conspiracy. Lewis has robustly denied the allegations, which were brought forth on Tuesday by the US attorney for the southern district of New York, Damian Williams.
“We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends,” Williams said in a statement.
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“Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.
“None of this was necessary, Joe Lewis was a wealthy man. But as we allege he used inside information as a way to compensate his employees or shower gifts on his friends and lovers.”
One part of the allegations centres on claims that Lewis wired money to two of his personal pilots to the tune of $1m in October 2019 so that they could acquire shares in a biotech firm that Lewis was an investor
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