In one instance, Lewis allegedly loaned his pilots $500,000 each so they could buy shares before a company’s clinical trial news became public.Ĭalls and emails to Tavistock’s media team weren’ returned. Prosecutors claim Lewis was engaged in insider trading for eight years, passing on material non-public information about several companies, including Solid Biosciences, Australian Agricultural Co. Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.” Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment,” Lewis’s lawyer David M. “The government has made an egregious error in judgment in charging Mr. Prosecutors didn’t announce Lewis’s arrest with the indictment. “But as we allege he used inside information as a way to compensate his employees or shower gifts on his friends and lovers.” “None of this was necessary, Joe Lewis was a wealthy man,” Damian Williams, the US Attorney for the Southern District of New York, said in a statement Tuesday. Lewis, the founder of investment firm Tavistock Group, faces more than a dozen charges, including securities fraud. (Bloomberg) - British billionaire Joe Lewis, the owner of the Tottenham Hotspur soccer club in London, has been charged with insider trading in the US.įederal prosecutors alleged in an indictment in New York that the 86-year-old passed on inside information from companies in which he was a large investor to friends, including his personal pilots, assistants, and romantic partners.
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