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HomeUSBillionaire Joe Lewis Former Tottenham owner enters a guilty plea to US...

Billionaire Joe Lewis Former Tottenham owner enters a guilty plea to US allegations of insider trading

Pixabay The Digital Artist

In July, the 86-year-old investor was charged with “orchestrating a brazen insider trading scheme.” After being accused of insider trading, billionaire Joe Lewis, the man behind the business that owns Tottenham Hotspur in the Premier League, entered a guilty plea to federal charges in the United States.

Lewis entered the Manhattan courtroom on Wednesday and entered a guilty plea to one count of conspiracy to commit securities fraud and two counts of securities fraud. Lewis formed ENIC Sports Inc., the business currently holding most of the Spurs’ shares.

In July 2023, he gave two of his private pilots, friends, personal assistants, and sexual partners access to confidential information about his portfolio firms. Prosecutors claim that this allowed them to make millions of dollars. On Wednesday in New York court, Lewis said, “I am so embarrassed, and I apologize to the court for my conduct.”

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According to Forbes, the billionaire, whose estimated net worth is $6.2 billion (£4.8 billion), formed the investment firm Tavistock Group. Lewis owns the UK pub chain Mitchells & Butlers and the Tavistock Group, which has over 200 properties spread over 13 countries. For £22 million in 2001, he acquired a majority share in Tottenham, a Premier League team, from Alan Sugar.

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