After first entering a not guilty plea in July, former Tottenham Hotspur owner Joe Lewis is expected to enter a guilty plea on Wednesday for providing inside information to his private pilots and girlfriend.
Joe Lewis, the former owner of Tottenham, entered a guilty plea to giving his girlfriend and private pilots access to confidential information. In a Manhattan courthouse back in July, the 86-year-old entered a not guilty plea to 19 counts of insider trading and conspiracy. Bloomberg revealed on Wednesday that the man would now modify his plea.
On Wednesday, Lewis said before the New York court, “I am so embarrassed and I apologise to the court for my conduct.” A New York courtroom was scheduled to see the billionaire again in January due to his suspected involvement in a “brazen” insider trading operation that took place between 2013 and 2021.
US attorney Damian Williams made the following announcement in a July video statement: “Today I am announcing that my office, the southern district of New York, has indicted Joe
Joe Lewis allegedly misused his access to company boardrooms for years, giving his friends, personal assistants, private pilots, and love partners insider information on a regular basis. Because Lewis made those bets certain, those people who traded on that insider information went on to make millions of dollars in the stock market.”
“Now, none of this was necessary,” he said. Joe Lewis has a large fortune. However, it is alleged that he utilised insider knowledge to reward his staff or give presents to his friends and romantic partners.
That is the quintessential corporate corruption. It is illegal and constitutes cheating. laws that are universally applicable to all people. Joe Lewis will so face justice in this Southern District of New York after being charged.”
According to Forbes, Lewis is believed to be worth $6.1 billion (£4.7 billion), having increased his wealth by around $2 billion (£1.5 billion) since 2020. According to them, he is the 425th richest guy on the planet.
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Born above an East End pub, the notoriously private Lewis is the owner of Tavistock Group, which spans 15 countries and over 200 assets. The English National Investment Company, or ENIC, is one of the company’s holdings; it owns the majority of Tottenham Hotspur.
Lewis amassed his wealth through trading and investing, and he now possesses enormous tracts of land in Argentina and Orlando. In addition, he possesses an art collection reportedly valued at over a billion pounds, which comprises pieces by Picasso, Matisse, and Freud.
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