Staff Reports
British billionaire and owner of Tottenham Hotspur, Joe Lewis, has found himself in hot water as U.S. prosecutors have indicted him on charges of sharing insider trading secrets with his romantic partners and friends. In what prosecutors are calling a “brazen” criminal scheme, Lewis allegedly provided confidential stock tips to his associates, allowing them to make millions of dollars on the stock market. Well, isn’t that sweet of him, sharing the wealth like that? Except, of course, it’s illegal.
Statement of U.S. Attorney Damian Williams on U.S. v. Joseph Lewis pic.twitter.com/9rGTTYVx6h
— US Attorney SDNY (@SDNYnews) July 25, 2023
According to U.S. Attorney Damian Williams, Lewis used his extensive connections within various corporations to gain access to valuable insider information, which he then doled out to his “employees” and loved ones as a token of his affection. Securities fraud and conspiracy are just a couple of the charges Lewis is facing as a result of his alleged actions. However, his attorney, David Zornow, is not happy about it. He’s come out swinging, declaring that the 86-year-old billionaire is a man of “impeccable integrity and prodigious accomplishment.” Well, if sharing insider trading secrets is an accomplishment, then sign us up for the “Prodigious Accomplishment Club”!
It’s worth noting that Lewis is no small-time operator. With a reported net worth of $6.1 billion, he owns the Tavistock Group, an investment organization with over 200 assets across 13 countries. As part of his empire, Lewis also owns Tottenham Hotspur, a prominent British soccer club. Forbes even ranked Tottenham as the ninth most valuable soccer team in the world in May, with a valuation of $2.8 billion. So, while Lewis may have thought he could bend the rules to his advantage, it seems like he had more than enough money to play by them fairly. But hey, who needs ethics when you can make a quick buck? This case is a prime example of corporate corruption at its finest. Let’s hope justice is served, and Lewis learns the hard way that cheating is, well, against the law.
Source= News
