Joe Lewis: How one of Britain's richest people broke insider trading laws
The 87-year-old - whose family trust owns Tottenham Hotspur - gave secret stock tips to his girlfriend and employees.
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The 87-year-old - whose family trust owns Tottenham Hotspur - gave secret stock tips to his girlfriend and employees.
Joe Lewis, the founder of the company which owns Premier League club Tottenham Hotspur, has avoided prison for insider trading and conspiracy but must pay a $5million fine and serve three years’ probation, a Manhattan court judge has ruled. The 87-year-old British billionaire pleaded guilty in January after being indicted in the United States last July for “orchestrating a brazen insider trading scheme”. This, according to U.S. officials, involved the passing of information to “romantic partners and his private pilots.” U.S. sentencing guidelines had called for Lewis to serve...
The 87-year-old Tavistock Group founder, who shared illegal stock tips, will serve 3 years of probation after prosecutors and his lawyers asked for leniency.
Prosecutors said Lewis passed inside information on his portfolio companies to his private pilots as well as friends, personal assistants and romantic partners.
British billionaire who heads family that owns Tottenham Hotspur fined $5m and given three-year probation by New York judge