British billionaire Joe Lewis pleads guilty to insider trading

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英 억만장자 조 루이스, 내부자 거래 유죄 인정

British billionaire Joe Lewis in New York federal court on Wednesday pleaded guilty to securities fraud related to insider trading.
Lewis, whose family trust owns the English Premier League football team Tottenham Hotspur, has admitted to sharing nonpublic information to friends and associates and apologized to a judge commenting that he was "embarrassed" of his misconduct.

The 86 year-old billionaire was accused last July by New York attorney Damian Williams, of giving friends, including his romantic partners, assistants, personal pilots and friends inside information about companies in which he invested in. Lewis was charged with 16 counts of securities fraud and three counts of conspiracy by federal prosecutors.

According to Forbes, the founder of investment firm Tavistock Group has a net worth of 6.2 billion dollars. Lewis has been released on a 300-million-dollar-bail, using his luxury assets as security.

According to the prosecutor's statement, Lewis and his company Broad Bay Limited will pay over 50 million dollars in fines, with a prison sentence between 18 and 24 months. Lewis's sentencing is scheduled for the 28th of March.

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2024-01-25, 09:00 (KST)