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US attorney charges Tottenham owner Joe Lewis of insider trading scheme

Posted : 26 July 2023
US attorney Damian Williams has accused Tottenham Hotspur owner Joe Lewis of orchestrating an insider trader scheme and using inside information to shower gifts on friends and lovers. Williams made the video announcement, stating that Lewis has been indicted and will face justice in the Southern District of New York (SDNY).

However, Lewis's lawyer, David Zornow, called the charges an "egregious error in judgement" and asserted that the 86-year-old had voluntarily come to the US to defend himself.
 
Tottenham Hotspur released a statement clarifying that the legal matter is unrelated to the club and refrained from further comment. The allegations against Lewis were presented in the video statement, but a formal written indictment is yet to be released.
 
Williams alleged that Lewis abused his access to corporate boardrooms, providing inside information to personal assistants, romantic partners, private pilots, and friends. These acquaintances reportedly used the information to make substantial profits in the stock market, with Williams claiming that the bets were a "sure thing" thanks to Lewis's actions.
 
Joe Lewis is known to be one of Britain's wealthiest individuals, owning various assets, including the Premier League club Tottenham Hotspur, which he acquired in 2001 for £22 million from Sir Alan Sugar.

He also holds a stake in the UK pub chain Mitchells & Butlers and was ranked 39th on the 2023 Sunday Times Rich List with an estimated net worth exceeding £5 billion.

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