US attorney Damian Williams has accused renowned British billionaire and Tottenham Hotspur football club owner Joe Lewis of organising a blatant insider trading scam. In a video announcement, Williams stated that Lewis lavished presents on his friends and girlfriends using personal information.
The 86-year-old tycoon has been indicted and will face justice in the Southern District of New York (SDNY), while his attorney, David Zornow, rejected the claims and stated that Lewis came to the United States freely to defend himself.
According to Williams, Lewis’s friends used insider knowledge to collect millions of dollars in stock market winnings, saying the bets were guaranteed due to Lewis’s influence. Tottenham Hotspur disassociated themselves, noting that the legal action has no bearing on the club.
Lewis is among the wealthiest persons in Britain, with an estimated net worth of about £5 billion.