Joe Lewis indicted within the US over alleged insider buying and selling
J
oe Lewis has been indicted within the US for “orchestrating a brazen insider training scheme”.
US Attorney Damian Williams introduced the costs late on Tuesday evening through a video posted on Twitter.
The Southern District of New York have indicted Lewis and accused the 86-year-old billionaire of “classic corporate corruption”.
“Today I am announcing that my office, the Southern District of New York, has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider training scheme,” stated Williams.
“We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends.
“Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.
“Now, none of this was necessary. Joe Lewis is a wealthy man, but as we allege he used inside information as a way to compensate his employees or to shower gifts on his friends and lovers. That’s classic corporate corruption.
“It’s cheating and it’s against the law. Laws that apply to everyone, no matter who you are. That’s why Joe Lewis has been indicted and will face justice here in the Southern District of New York.”
A Tottenham spokesperson stated: “This is a legal matter unconnected with the Club and as such we have no comment.”
Lewis’ lawyer David M. Zornow stated: “The government has made an egregious error in judgment in charging Mr. Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment. Mr. Lewis has come to the U.S. voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.”