Tottenham Hotspur ex-owner Joe Lewis pleads guilty to three criminal charges in the USA
Former Tottenham Hotspur owner Joe Lewis has pleaded guilty to several criminal charges in the United States of America, per Sky Sports. The 86-year-old was charged with insider trading last year. He admitted that he was aware of his wrongdoings while they took place.
Lewis has admitted to three charges in terms of insider trading in the United States of America. He pleaded guilty to one count of conspiracy to commit securities fraud and two counts of security fraud. However, he denied his role in 14 counts of security fraud and two counts of conspiracy, for alleged crimes between 2013 and 2021.
Speaking to the New York court on Wednesday, here is what he said:
“I am so embarrassed and I apologise to the court for my conduct.”
There is no solid news surrounding the aftermath of the event. But it is learned that the former Tottenham Hotspur owner will be sentenced on 28th March 2024.
Who is Joe Lewis and what did he do?
Joe Lewis is the owner of the Tavistock Group who own more than 200 assets in 13 countries. He also owns the UK pub operator Mitchells & Butlers. In 2001, Lewis bought a controlling stake in Tottenham from Alan Sugar, former chairman and part-owner of Tottenham.
He was caught passing inside information on his portfolio companies to friends, personal assistants, romantic partners and two of his private pilots. The incident came to light in July 2023.
The concerned parties are said to have reaped millions in profit due to the inside information shared by Lewis. Tottenham Hotspur has no ties with Joe Lewis since October 5 2022.
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This came after the majority ownership of the club was passed to the Lewis Family Trust, which is managed by two independent professional trustees on behalf of its beneficiaries. However, Joe Lewis is not a beneficiary, cutting off all of his direct involvement with the North London club.
