Tottenham owner Joe Lewis charged by feds with insider trading

  • 📰 CBSNews
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 68%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

British billionaire and Tottenham soccer team owner Joe Lewis has been indicted on charges of slipping confidential stock tips to his romantic partners, private pilots and other pals, U.S. prosecutors said

Tuesday.

David M. Zornow, an attorney for Lewis, said his client had come to the U.S."to answer these ill-conceived charges" and would fight them vigorously. Lewis' Tavistock Group has stakes in more than 200 companies around the world, according to its website, and his art collection boasts works by Picasso, Matisse, Degas and more. His business connections include Tiger Woods, Ernie Els and Justin Timberlake, with whom he built a Bahamian oceanside resort that opened in 2010.

"Boss is helping us out and told us to get ASAP," the pilot texted when advising a friend to buy the stock, too, according to the filing. In later texts telling the friend about the loan, the pilot reasoned that"the Boss has inside info" and"knows the outcome."Lewis also gave the tip to his girlfriend, his personal assistant, a poker buddy and a friend with whom he had a romance, the indictment said.

The stock price shot up after the clinical trial results and the financial move were announced, and the girlfriend more than doubled her money, netting about $850,000, according to the indictment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 87. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. charges Joe Lewis, British billionaire and Tottenham owner, with insider tradingBritish billionaire and Tottenham soccer team owner Joe Lewis has been indicted in the U.S. on charges of slipping confidential business information to...
Source: MarketWatch - 🏆 3. / 97 Read more »

UK billionaire Joe Lewis, owner of Tottenham soccer team, charged with insider trading in USBritish billionaire and Tottenham soccer team owner Joe Lewis has been indicted in the U.S. on charges of slipping confidential business information to others, including his romantic partners and private pilots, prosecutors said Tuesday.
Source: AP - 🏆 728. / 51 Read more »

Tottenham Hotspurs owner Joe Lewis indicted over ‘brazen’ insider trading scheme: prosecutorsThe 86-year-old allegedly spent years giving inside information to friends, romantic partners, personal assistants, and even personal private pilots.
Source: nypost - 🏆 91. / 67 Read more »

Tottenham soccer team owner Joe Lewis charged with insider trading in USProsecutors say British billionaire and Tottenham soccer team owner Joe Lewis has been indicted in New York on insider trading charges.
Source: NBCLA - 🏆 319. / 59 Read more »

British Billionaire Joe Lewis Indicted in U.S. for Insider TradingJoe Lewis was accused by federal prosecutors of orchestrating a “brazen” scheme over eight years, abusing his access to corporate boardrooms and “repeatedly” providing insider information to employees, friends, and romantic partners.
Source: thedailybeast - 🏆 307. / 63 Read more »

US charges British billionaire Joe Lewis with insider tradingJoe Lewis, the British billionaire and owner of the Tottenham Hotspur soccer team, has been criminally charged in New York for orchestrating a 'brazen' insider trading scheme.
Source: Reuters - 🏆 2. / 97 Read more »