British billionaire and owner of Tottenham Hotspur, Joe Lewis, has been arrested on insider trading charges. The 86-year-old is accused of providing confidential information about several companies to friends, family, and associates, who then used this information to make millions of dollars on the stock market.
Lewis was arrested in New York on Wednesday and released on bail after posting a $250 million bond. As part of his bail conditions, he must surrender his superyacht, “AVIVA,” and his private plane.
The prosecution alleges that Lewis provided inside information and actively assisted individuals in investing based on this confidential information. For example, they claim that Lewis wired $1 million to two pilots, Patrick O’Connor and Bryan Waugh, in October 2019, so they could buy shares of Mirati Therapeutics, a cancer therapy company. After a successful clinical trial announcement, the pilots allegedly repaid the money after the stock’s value surged by 16.7%.
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Lewis is accused of insider trading in three companies: Mirati Therapeutics, Solid Biosciences, and Australian Agricultural Co.
Lewis’s defense attorney, David Zornow, has vehemently denied the charges, asserting that the billionaire is a man of “impeccable integrity and prodigious accomplishment.” Zornow argues that the government has made an error in judgment and that Lewis voluntarily came to the US to address the charges. The defense team vows to vigorously defend Lewis in court.
The outcome of the case could have a significant impact on the insider trading laws and the financial markets.
The case is scheduled for trial on September 5. The outcome of the case could significantly impact insider trading laws and the financial markets.
Who is Joe Lewis?
Joe Lewis is a British billionaire businessman who owns the Tavistock Group, a private investment firm with over 200 assets across 13 countries. The Tavistock Group’s investments include Mitchells & Butlers, the UK’s largest pub operator, and Tottenham Hotspur, a Premier League football club. Lewis is also the majority shareholder of Lake Nona, a master-planned community in Florida.
Lewis’s wealth is estimated at £5 billion, making him the 39th richest person in the UK, according to the 2023 Sunday Times Rich List. He made his fortune through various businesses, including currency trading, property development, and investments in the hospitality and leisure industries.
Lewis’s sporting interests beyond football are mainly in golf and sailing. He is a keen golfer and counts Tiger Woods and South African golfer Ernie Els among his friends. He also sponsors the Tavistock Cup, a golf tournament that is held annually in the Bahamas.
In 2017, Lewis bought a 321-foot superyacht called Aviva. The yacht is one of the largest in the world and is equipped with a helipad, a swimming pool, and a cinema.
Despite his wealth and success, Lewis remains a relatively unknown figure to the general public. He is a low-profile figure who rarely gives interviews. He is known for his reclusive lifestyle and his love of gambling. He is a regular at the high-stakes poker tables in Las Vegas and Monte Carlo.
Lewis is a controversial figure. He has been accused of tax avoidance and insider trading. He was also the subject of a criminal investigation into money laundering in the 1990s. However, he was never charged with any wrongdoing.
Tottenham Hotspur
Tottenham Hotspur is one of England’s most popular football clubs, with a large and passionate fan base. Tottenham competes in the Premier League, the top flight of English football. The club was founded in 1882 and has won the FA Cup eight times, the League Cup four times, the UEFA Cup Winners’ Cup once, and the UEFA Cup once.
The club’s home ground is Tottenham Hotspur Stadium, which has a capacity of 62,850. The stadium was opened in April 2019 and replaced White Hart Lane, which was demolished to make way for the new stadium.
Tottenham Hotspur is a club with a rich history. The club has been involved in some of the most famous matches in English football history, including the 1961 FA Cup Final against Manchester City, which Tottenham won 2-1. Tottenham Hotspur has also produced some of the greatest players in English football history, including Jimmy Greaves, Glenn Hoddle, and Harry Kane.
Tottenham Hotspur is a club with a bright future. The club is currently managed by Antonio Conte, who has a proven track record of success in Italian football. Tottenham Hotspur is also well-positioned financially, with a strong fan base and a new stadium.
Here are some of the club’s most notable achievements:
- FA Cup winners (8): 1961, 1962, 1967, 1981, 1982, 1991, 1999, 2008
- League Cup winners (4): 1971, 1973, 1999, 2008
- UEFA Cup Winners’ Cup winners (1): 1963
- UEFA Cup winners (1): 1972
- Runners-up in the Premier League (2): 1993, 2016-17
- Runners-up in the UEFA Champions League (1): 2019
Tottenham Hotspur is a club with a rich history and a bright future. The club is committed to success on and off the pitch, and it is a club that is proud of its heritage and its community.
