Former Tottenham Hotspur owner, Joe Lewis, has surrendered to US authorities in Manhattan after being charged with insider trading (Bloomberg).
A spokesperson for the US Attorney’s Office revealed that Lewis, 86, has turned himself in to the federal authorities in New York on Wednesday morning.
(Photo by David Cannon/Getty Images)
This comes less than 24 hours after federal prosecutors announced an indictment on Lewis, who was charged with multiple counts of insider trading (Bloomberg).
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.”
Spurs owner Joe Lewis charged with insider trading
It was alleged that Lewis’ insider trading consisted of passing information to friends, romantic partners, assistants, and personal pilots, across more than a dozen incidents and a total of eight years.
It was also claimed that Lewis loaned money to some of these contacts.
Now, the former Tottenham Hotspur owner has surrendered himself to the authorities to face these charges. Sky Sports have reported that he will appear in court as early as later today.
Spurs Web Opinion:
This is yet another wave of bad PR for the club, even if it doesn’t actually impact the day-to-day running of Tottenham Hotspur. When it rains, it pours as a Spurs fan.
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