Joe Lewis, the 86-year-old British billionaire and owner of the English soccer team Tottenham Hotspur, has been indicted in New York on charges of “orchestrating a brazen insider trading scheme,” U.S. officials said late Tuesday.
in a video statement posted Tuesday on X, the social media platform previously known as Twitter.
Lewis faces 19 counts, including securities fraud, with each count carrying maximum prison terms of between five and 25 years, according to Nicholas Biase, a spokesman for the U.S. attorney’s office for the Southern District of New York.David M. Zornow, an attorney for Lewis, said in a short statement that the U.S. government had “made an egregious error in judgment in charging Mr. Lewis” and that Lewis has come to the United States voluntarily “to answer these ill-conceived charges.
Prosecutors say Lewis sought to profit by sharing nonpublic information about the Australian Agricultural Company, Mirati Therapeutics and Solid Biosciences. Representatives for those companies could not immediately be reached early Wednesday.In early 2019, according to the indictment, Lewis provided nonpublic information to his personal pilots, advising them to sell all their stock in the Australian Agricultural Company, a beef producer whose board Lewis’s associates sat on.
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