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Tottenham billionaire Joe Lewis pleads guilty to insider trading charges

talksport.com, 24 January 2024, 15:43
Tottenham billionaire Joe Lewis has pleaded guilty to US insider trading charges.

The 86-year-old pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud.

Lewis told the court: "I am so embarrassed and I apologise to the court for my conduct."

The London born tycoon's lawyer, David Zornow, added that client has the right to appeal, should he be sentenced to prison time.

Lewis was initially charged in July 2023 when prosecutors accused him of giving up confidential business secrets to romantic partners, private pilots and friends.

Two pilots, Patrick O'Connor and Bryan Waugh, were also charged at the time.

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Lewis ceded control of Tottenham in October 2022. Members of his family now own 70.12 per cent of Enic Sports Inc, who own 86.58 per cent of the London club.

Companies House documents show that Lewis, who is worth just over £5billion, ceased to be a person with significant control. Spurs chairman Daniel Levy now largely takes charge of the day-to-day running of the club.

U.S. District Judge Jessica Clarke has set Lewis' sentencing for March 28.

The full charge includes 16 counts of securities fraud and three counts of conspiracy, for alleged crimes spanning from 2013 to 2021.

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As part of an agreement with the U.S. Attorney's office in Manhattan, Lewis has not pleaded guilty to the other charges, but Clarke said she may consider them in sentencing.

Former Spurs Director of Football discusses the sale of Gareth Bale and Real Madrid negotiations

Read full version: https://talksport.com/football/1723244/tottenham-joe-lewis-insider-trading/
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  • Cristiano Ronaldo
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  • Forbes
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  • insider trading
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