Tottenham Hotspur Owner Surrenders: British Billionaire Joe Lewis Faces Insider Trading Charges

British billionaire Joe Lewis, the owner of Tottenham Hotspur soccer team, has surrendered to U.S. authorities in Manhattan to face insider trading charges. Lewis, along with his two pilots, Patrick O'Connor and Bryan Waugh, is accused of orchestrating a brazen insider trading scheme by passing tips about companies in which he invested to friends, personal assistants, private pilots, and romantic partners.

The prosecutors allege that Lewis lent each pilot $500,000 in 2019 and encouraged them to buy stock in oncology company Mirati Therapeutics before it released positive clinical results. After the results were announced, both pilots repaid Lewis for his loans. Lewis' lawyer has claimed that his client voluntarily came to the United States to defend himself against the charges.

The U.S. Securities and Exchange Commission has also filed a civil insider trading case against Lewis and his pilots, as well as Lewis' then-girlfriend Carolyn Carter. The alleged crimes span from 2013 to 2021.

Lewis, who is worth $6.1 billion according to Forbes magazine, controlled board of director seats at several companies, which gave him access to inside information. Insider trading has been a focus of the U.S. Attorney in Manhattan since 2009. Lewis, O'Connor, and Waugh have all pleaded not guilty to the charges.