Spurs owner Joe Lewis faces insider trading guilt

In a surprising turn of events, British billionaire Joe Lewis, majority owner of Tottenham Hotspur, has decided to plead guilty to charges of insider trading.

The 86-year-old is accused of sharing confidential information about companies he intended to invest in with close associates, including romantic partners, friends, pilots, and assistants.

Lewis, whose family trust holds a significant stake in the Premier League club, has reached a plea deal with the U.S. attorney’s office after being indicted last July.

The charges allege that Lewis orchestrated a “brazen insider trading scheme” by exploiting access to corporate boardrooms.

While initially facing 16 counts of securities fraud and three counts of conspiracy, Lewis will plead guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud.

The guilty plea is part of a broader agreement, and Lewis expressed remorse in court, stating, “I am so embarrassed, and I apologize to the court for my conduct.”

Lewis, estimated to be worth around $6.1 billion, is scheduled for sentencing on March 28.

The case involves allegations of substantial gains made by Lewis’ associates, including two pilots, Patrick O’Connor and Bryan Waugh, who are facing related charges.

Tottenham Hotspur clarified that the legal matter is unrelated to the football club.

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