United Kingdom

Billionaire owner of Tottenham Hotspur, Joe Lewis, indicted for insider trading: NY US Attorney

The billionaire owner of the foundering Tottenham Hotspur soccer team, Joe Lewis, illegally doled out stock tips to friends, lovers and staff in a “brazen insider trading scheme,” according to the Manhattan U.S. Attorney’s office.

“We allege that for years, Joe Lewis abused his access to boardrooms and repeatedly provided insider information to his romantic partners, his personal assistants, pilots and his friends,” U.S. Attorney Damian Williams said in a social media video posted Tuesday. “Those folks then traded on that information and made millions of dollars in the stock market because, thanks to Lewis, those bets were a sure thing.”

In one instance outlined in the indictment, Lewis loaned his private pilots half a million dollars each to buy stock in an experimental cancer drug company.