Report: Former Tottenham owner, Joe Lewis, to plead guilty to insider trading
Joe Lewis, the former owner of Tottenham Hotspur Football Club, is expected to file a guilty plea in his upcoming federal court hearing regarding charges...
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Joe Lewis, the former owner of Tottenham Hotspur Football Club, is expected to file a guilty plea in his upcoming federal court hearing regarding charges of insider trading, his lawyer has revealed.
In the summer of 2023, it was reported by Bloomberg that Joe Lewis had been indicted for insider share dealing and conspiracy. Lewis, who founded the ENIC group and led the ownership of Tottenham until recently, had handed himself into authorities at the time.
According to the Daily Mail, 16 charges were brought against Lewis, but his lawyer had previously insisted this was an ‘egregious error’.
A further, incredibly detailed report from The Athletic revealed the nature of the accusations levelled at Lewis, including ‘orchestrating a brazen insider trading scheme’ which involved his girlfriend and his pilots. That report claimed Lewis would have to wait until January 2024 for any court hearing date.
Joe Lewis to plead guilty to insider trading
Now, the case is here, and Bloomberg have more details on the latest in the ongoing situation, including information regarding Joe Lewis’ plea for the trial.
The report reads: ‘Joe Lewis will plead guilty to passing inside information to his private pilots and girlfriend, putting a black mark on the 86-year-old investor’s otherwise spectacular rise from London’s East End to one of Britain’s richest men.
‘Lewis’ lawyer said his client will enter the plea at a hearing in federal court in Manhattan Wednesday. The plea comes six months after [Lewis] was charged with more than a dozen counts, including securities fraud.’
It is worth noting that Lewis has not been involved directly with the football club since October 2022, when the Lewis Family Trust carried out a restructuring of the ENIC Group (Telegraph).
Spurs Web Opinion
Hopefully this situation does not impact Tottenham Hotspur Football Club in any way, and based on the report from the Telegraph previously, that should be the case.
The post Report: Former Tottenham owner, Joe Lewis, to plead guilty to insider trading appeared first on Spurs Web - Tottenham Hotspur Football News.