Tottenham owner Joe Lewis indicted in New York over alleged insider trading
Tottenham owner 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»
By Sky News
Wednesday 26 July 2023 06:45, UK
The British billionaire owner of Tottenham Hotspur, Joe Lewis, has been indicted for orchestrating a «brazen» insider trading scheme, the US attorney in Manhattan has said.
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.»
Mr 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» charges which would be «defended vigorously in court».
Lewis owns the Tavistock Group, with more than 200 assets across 13
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