The 86-year-old allegedly spent years giving inside information to friends, romantic partners, personal assistants, and even personal private pilots.
Joe Lewis — the British billionaire and owner of Tottenham Hotspur soccer club — was indicted for orchestrating a “brazen” insider trading scheme, New York prosecutors announced Tuesday.
The 86-year-old allegedly spent years giving inside information to friends, romantic partners, personal assistants, and even personal private pilots, who then made millions playing the stock market with his tips, according to prosecutors.
U.S. Attorney Damian Williams for the Southern District of New York called Lewis’ actions “classic corporate corruption” in an announcement of the indictment.
“None of this was necessary. Joe Lewis is 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,” Williams said.
