In a video posted to social media, US Attorney Damian Williams accused Lewis of orchestrating a “brazen insider trading scheme” between 2013 and 2021, passing confidential buying and selling tricks to his “romantic partners, his personal assistants, his private pilots, and his friends,” serving to them make hundreds of thousands of {dollars}.
“Joe Lewis is a wealthy man, But as we allege he used insider information as a way to compensate his employees or to shower gifts on his friends and lovers.”
In one occasion, the Southern District’s indictment, first obtained by Bloomberg, alleges that Lewis loaned his pilots every $739,492.50 ($500,000 USD) so they might commerce a biotech firm’s inventory earlier than a public announcement was made concerning the outcomes of a medical trial.
On different events, Lewis allegedly pressed his private assistants and romantic companions to commerce on the data he supplied as quickly as doable.
David M. Zornow, who’s counsel to Lewis, stated in an announcement, “The government has made an egregious error in judgment in charging Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment. Mr. Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.”
Neither Tottenham Hotspur nor Tavistock Group instantly responded to a request for remark.
Source: www.9news.com.au
