UK billionaire Joe Lewis, owner of Tottenham soccer team, charged with insider trading in US
Jul 25, 2023, 5:00 PM
(AP Photo/Phelan M. Ebenhack, File)
NEW YORK (AP) — British billionaire and Tottenham soccer team owner Joe Lewis has been indicted in the U.S. on charges of slipping confidential business information to others, including his romantic partners and private pilots, prosecutors said Tuesday.
Manhattan-based U.S. attorney Damian Williams announced the insider trading case in a video posted on Twitter. A message seeking comment was sent to a spokesperson for Tavistock Group, Lewis’ umbrella company for investments that span from real estate to biotechnology.
Williams outlined charges of “brazen” insider dealing by the billionaire, saying that he exploited his entrée to various corporations to reap tips that he slipped to people in his own inner circle, who deployed the knowledge to make stock trades and millions of dollars.
“As we allege, he used insider information as a way to compensate his employees and shower gifts on his friends and lovers,” Williams said. “It’s cheating, and it’s against the law.”
Lewis has owned Tottenham since 2001.