"British Billionaire Joe Lewis Pleads Guilty to Insider Trading in US"

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Source: The Guardian
"British Billionaire Joe Lewis Pleads Guilty to Insider Trading in US"
Photo: The Guardian
TL;DR Summary

British billionaire Joe Lewis, 86, pleaded guilty to US insider trading charges, admitting to passing inside information on his portfolio companies to pilots, friends, and associates, enabling them to make millions in profit. Lewis apologized to the court and faces sentencing on 28 March. He remains free on a $300m bond secured by his yacht and private aircraft, with travel restrictions. Prosecutors allege Lewis engaged in securities fraud and conspiracy from 2013 to 2021, involving companies including Mirati Therapeutics and BCTG Acquisition.

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