BREAKING: British billionaire Joe Lewis has surrendered to US authorities in Manhattan, and is expected to appear in court later today to face insider trading charges, a spokesman for the US Attorney's office in Manhattan said
Federal prosecutors accused Lewis, whose family trust controls a majority of the Tottenham Hotspur soccer team, with orchestrating a "brazen" insider trading scheme by passing tips about companies in which he invested to friends, personal assistants, private pilots and romantic partners.
Lewis' lawyer David Zornow said prosecutors "made an egregious error" in charging Lewis, 86, and said his client had come to the United States voluntarily to defend himself against the charges. Lawyers for O'Connor and Waugh did not immediately respond to requests for comment. They have both also been arrested, according to prosecutors.
After Mirati announced the positive results, its share price increased 16.7% in one day, and both pilots repaid Lewis for his loans.
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