Tottenham owner Joe Lewis, 86, turned himself in to federal authorities in Manhattan, New York on Wednesday. On Tuesday prosecutors announced charges of insider trading were brought against the Spurs owner.
The Southern District of New York stated that the Tottenham owner had abused his power of sitting in various corporate boardrooms and provided inside information to romantic partners, personal assistants, friends, and even his private airplane pilot.
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U.S. Attorney Damian Williams stated, “Joe Lewis is a wealthy man, but as we allege, he used insider information as a way to compensate his employees or to shower gifts on his friends and lovers.”
Joe Lewis turns himself in to federal authorities in the United States
Williams also added, the charges against Lewis are “classic corporate corruption. It’s cheating and it’s against the law, laws that apply to everyone no matter who you are.”
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Lewis faces charges of 16 counts of securities fraud and three counts of conspiracy. Lewis is the owner of the Tavistock Group, a conglomerate with more than 200 assets in 13 countries. The group owns the Premier League team Tottenham Hotspur and is reported to have a wealth of $5.998 billion.
