According to Bloomberg, Tottenham Hotspur owner, Joe Lewis, has been charged with insider trading in the United States.
The indictment was announced by federal prosecutors in New York this evening, and Lewis has been charged with passing inside information from companies he was investing in, and securities fraud.
The US Attorney for the Southern District of New York, Damian Williams, said in a statement: “None of this was necessary, Joe Lewis was a wealthy man.
“But as we allege he used inside information as a way to compensate his employees or shower gifts on his friends and lovers.”
Joe Lewis charged with passing insider information
Lewis reportedly passed this information to friends, romantic partners, assistants, and personal pilots, racking up more than a dozen different charges.
The prosecutors claim Lewis conducted insider trading for a total of eight years, passing information on companies such as Mirati Therapeutics, Australian Agricultural Co, and Solid Biosciences.
They even alleged that the Spurs owner loaned money to some of the people he passed information to.
Lewis currently invests in 13 different countries, across more than 200 businesses, as well as being the majority owner of Tottenham Hotspur.
Spurs Web Opinion:
A day in the life of a Tottenham fan. It seems the club just jumps from one disaster to the next at the moment. First Fabio Paratici, and now charges being brought against the actual owner of the football club. It remains to be seen what impact this has on Tottenham Hotspur FC.
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