NEW YORK — Joe Lewis, the British billionaire and owner of Tottenham soccer team, has been indicted in the U.S. for the alleged disclosure of confidential business information. The charges include sharing this information with his romantic partners and private pilots, according to prosecutors.
The insider trading case was announced by Manhattan-based U.S. attorney Damian Williams through a video posted on Twitter. A spokesperson for Tavistock Group, Lewis’ investment umbrella company spanning sectors such as real estate and biotechnology, was contacted for comment but did not respond.
Williams described the alleged insider dealing by Lewis as “brazen,” detailing how the billionaire took advantage of his connections with various corporations to gain valuable tips. These tips were then shared with individuals within his inner circle, who utilized the knowledge to execute stock trades, resulting in millions of dollars in profits.
The U.S. attorney emphasized that Lewis used insider information to reward his employees and provide gifts to friends and lovers. Such actions are considered cheating and are undoubtedly illegal, Williams stated.
It is noteworthy that Lewis has been the owner of Tottenham since 2001.
