British billionaire Joe Lewis, who owns the Tottenham Hotspur soccer team, is facing charges of insider trading in the United States. The 86-year-old founder of the Tavistock Group, worth an estimated $6.1 billion, allegedly shared confidential stock tips with his friends and lovers, according to a US attorney. The charges claim that Lewis abused his access to corporate boardrooms for years, disclosing inside information to his romantic partners, personal assistants, private pilots, and friends. The alleged scheme, described as “brazen”, occurred between 2013 and 2021.
Lewis’ associates reportedly profited millions of dollars from these tips, even though Lewis is already incredibly wealthy. He has been charged with 16 counts of securities fraud and three counts of conspiracy. In one instance, a pilot texted a friend, suggesting that Lewis lent them each $500,000 to invest, indicating that Lewis had inside information. The United Kingdom and the United States have a bilateral extradition treaty, but Lewis’s attorney claims that Lewis voluntarily traveled to the US to address these allegations, which he believes are a grave mistake.
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