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U.K. billionaire Joe Lewis, owner of Tottenham soccer team, charged with insider trading in U.S.

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British billionaire and Tottenham soccer team owner Joe Lewis has been indicted in the U.S. on charges of slipping confidential business information to others, including his romantic partners and private pilots, prosecutors said Tuesday.

Manhattan-based U.S. attorney Damian Williams announced the insider trading case in a video posted on Twitter.

"As we allege, he used insider information as a way to compensate his employees and shower gifts on his friends and lovers," Williams said. "It's cheating, and it's against the law." According to the indictment, Lewis' investments in various companies gave him control of board seats, where he placed associates who let him know what they learned behind the scenes. Lewis allegedly doled out that confidential information to his chosen recipients and urged them to trade on it.

 

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