NASSAU, BAHAMAS — Joe Lewis, the prominent British billionaire and Albany developer known for his ownership of the Tottenham Hotspur soccer team, has been accused of ‘brazen insider trading’ by US prosecutors.
US prosecutors have charged Lewis, 86, with 16 counts of securities fraud and three counts of conspiracy for his alleged involvement in an insider trading scheme. The charges pertain to activities that took place between 2013 and 2021.
According to prosecutors, Lewis took advantage of his privileged access to corporate boardrooms to share confidential stock tips with various individuals, including friends, personal assistants, private pilots, and even romantic partners. These recipients allegedly used insider information to make lucrative trades, resulting in substantial profits.
Lewis, a resident of The Bahamas, is the founder of the investment firm Tavistock Group, which holds over 200 assets across 13 countries. Forbes has estimated his wealth at an £4.65 billion.
His attorney, David Zornow, has asserted that charges against Lewis are unfounded and based on an “egregious error in judgment.” Zornow added that the 86-year-old billionaire willingly traveled to the US to confront the charges and intends to vigorously defend himself in court.
