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Joe Lewis

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legalcrime1 year ago

"British Billionaire Joe Lewis Avoids Prison in Insider Trading Case"

87-year-old billionaire Joe Lewis pleaded guilty to insider trading and conspiracy charges in New York but was spared prison time due to failing health and lifetime of good works. He was sentenced to three years probation and a $5 million fine, with prosecutors and the judge agreeing that time behind bars was not necessary. Lewis admitted to sharing secrets about publicly traded companies and his company, Broad Bay Limited, will pay $50 million in financial penalties. Despite being one of the 500 richest people in the world, Lewis' declining health and age were cited as reasons for leniency, and he is set to leave the United States for the Bahamas after paying the fine.

via Fortune|
#billionaire#insider-trading#joe-lewis
legalcrime1 year ago

Billionaire Joe Lewis Dodges Prison for Insider Trading

87-year-old billionaire Joe Lewis, wearing an eye patch, avoids prison for insider trading after citing health concerns, including a risk of falling and potentially fatal injuries. Manhattan federal court Judge Jessica Clarke spared him jail time and imposed a $5 million fine, along with probation for three years, despite prosecutors calling his scheme "brazen." Lewis, whose net worth exceeds $6 billion, admitted to giving illegal stock tips to his girlfriend and pilots, but his health issues and voluntary surrender from overseas led to the no-prison outcome.

via New York Post |
#billionaire#health-issues#insider-trading
legalcrime1 year ago

"British Billionaire Joe Lewis Spared Jail Time in US Insider Trading Case"

British billionaire Joe Lewis was fined $5m and given a three-year probation instead of jail time for his involvement in an insider trading conspiracy, with prosecutors citing his age and health issues as reasons for leniency. The 87-year-old, who owns Tottenham Hotspur, pleaded guilty to reduced charges and agreed to surrender his private yacht and plane as part of a $300m bond. The court also fined his company $44m, bringing the total fine and restitution to $49m. Lewis expressed remorse in court and vowed to make amends, while one of his co-defendants has pleaded guilty, and another is scheduled to go to trial in June.

via The Guardian US|
#billionaire#insider-trading#joe-lewis
business1 year ago

"British Billionaire Joe Lewis Escapes Prison in US Insider Trading Case"

British billionaire Joe Lewis has avoided US prison time in an insider trading case after reaching a settlement with the Securities and Exchange Commission. The settlement requires Lewis to pay $10 million in fines and forfeited profits. The case involved allegations that Lewis made $70 million in illicit profits by trading on nonpublic information about a merger.

via Financial Times|
#billionaire#business#insider-trading
legalcrime2 years ago

"British Billionaire Joe Lewis Admits Guilt in Insider Trading Case"

British billionaire Joe Lewis, 86, pleaded guilty to U.S. insider trading charges, admitting to passing inside information on his portfolio companies to friends and associates to reap millions of dollars of profit. Lewis, whose family trust controls a majority of the Tottenham Hotspur soccer team, entered a plea deal and can appeal if sentenced to prison. His Bahamian entity, Broad Bay Ltd, also pleaded guilty and agreed to pay a $50 million fine, while Lewis is restricted from traveling outside the United States and is set to be sentenced on March 28.

via NBC News|
#billionaire#guilty-plea#insider-trading
legalcrime2 years ago

"Billionaire Joe Lewis Admits Guilt in Insider Trading and Securities Fraud"

Joe Lewis, former owner of Tottenham Hotspur, pleaded guilty to securities fraud in the United States, admitting to passing insider information to romantic partners and private pilots. The 86-year-old billionaire's sentencing is set for March, with a potential 18 to 24 months' imprisonment. The case involves his firm, Tavistock Financial LLC, paying legal fees for the pilots charged in the scheme. Tottenham Hotspur has distanced itself from the legal matter, stating that Lewis is no longer a person with significant control of the club.

via The Athletic|
#guilty-plea#insider-trading#joe-lewis
legalcrime2 years ago

"Tottenham Hotspur Billionaire Joe Lewis Admits Guilt in Insider Trading Scandal"

British billionaire and Tottenham Hotspur owner Joe Lewis admitted in a New York court to providing his girlfriend and pilots with illegal stock tips, resulting in a plea deal that includes a $50 million penalty for his company. The 86-year-old faces up to two years in prison and has expressed remorse, with his attorney likely to seek leniency due to his age. Lewis' guilty pleas come after being charged with divulging inside stock information to his ex-girlfriend and pilots, with their cases still pending.

via New York Post |
#illegal-trading#joe-lewis#legalcrime
legalcrime2 years ago

"British Billionaire Joe Lewis Admits Guilt in Insider Trading Case"

British billionaire Joe Lewis, owner of Tottenham Hotspur soccer club, pleaded guilty to insider trading and conspiracy charges in New York, admitting to sharing nonpublic information about publicly traded companies. He faces a prison sentence of 18 to 24 months and a financial penalty of over $50 million. Lewis and his company, Broad Bay Limited, will resign from board seats and cooperate with the ongoing investigation. Despite his fortune and diverse business interests, including ownership of over 200 companies and an art collection, Lewis's guilty plea has led to significant legal and financial consequences.

via The Associated Press|
#financial-penalty#guilty-plea#insider-trading
legalcrime2 years ago

"British Billionaire Joe Lewis Admits Guilt in Insider Trading Case"

British billionaire Joe Lewis and his company, Broad Bay Ltd., pleaded guilty to securities fraud and insider trading in a New York federal court. Lewis, the owner of Tottenham Hotspur, faces a maximum possible sentence of 20 years in prison and a $50 million penalty for his involvement in a scheme to hide his ownership of shares and tipping off friends, employees, and romantic interests with inside information. His spokesman expressed remorse and apologized, emphasizing Lewis' long life of accomplishment and integrity.

via CNBC|
#insider-trading#joe-lewis#legalcrime
businesscrime2 years ago

"Former Tottenham Owner Joe Lewis Pleads Guilty to Insider Trading Charges"

UK billionaire Joe Lewis, owner of Tottenham Hotspur football club, has pleaded guilty to insider trading in a US court, admitting to passing on information about his companies to various contacts. The fraud netted millions of dollars in profit, and Lewis pleaded guilty to conspiracy and two counts of securities fraud as part of a deal with prosecutors. He faces a maximum sentence of 20 years for each securities fraud count, but the plea agreement allows him to appeal if sentenced to prison time.

via BBC.com|
#businesscrime#guilty-plea#insider-trading
legalcrime2 years ago

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

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.

via The Guardian|
#guilty-plea#insider-trading#joe-lewis
business2 years ago

Tottenham Owner Joe Lewis Indicted for Insider Trading in US

Joe Lewis, the billionaire owner of Tottenham Hotspur soccer team, has been criminally charged in New York for orchestrating an insider trading scheme. Prosecutors allege that Lewis passed tips about companies he invested in to friends, personal assistants, pilots, and romantic partners, allowing them to make millions in profits. Lewis, who founded the investment firm Tavistock Group, has been charged with securities fraud and conspiracy. His lawyer denies the charges, stating that Lewis is a man of integrity. Insider trading has been a focus of the U.S. Attorney's office, and Lewis is accused of passing nonpublic information about companies such as Mirati Therapeutics and Solid Biosciences.

via ESPN|
#business#criminal-charges#insider-trading