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Tottenham owner Joe Lewis indicted for insider trading

Tottenham Hotspur owner Joe Lewis has been charged by American authorities for insider trading. 

The announcement was made by US attorney Damian Williams of the Southern District of New York (SDNY).

According to federal prosecutors, Lewis stands accused of divulging sensitive inside information to a circle of individuals.

These individuals allegedly utilised the privileged information to make substantial profits in the stock market, resulting in millions of dollars in gains.

In a video posted on Twitter, US attorney Damian Williams stated: “Today I am announcing that my office, the Southern District of New York, has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme.

“We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, personal assistants, private pilots and friends.”

Williams emphasised that Lewis’s actions were unnecessary, as he was already wealthy. 

The alleged use of insider information to reward employees, friends and lovers is classic corporate corruption and a violation of the law. 

Williams firmly asserted that the law applies to everyone, regardless of status or wealth.

Lewis has not issued any public comments regarding the allegations levelled against him. 

The severity of the charges leaves a cloud of uncertainty over his future at Tottenham and raises concerns about the potential impact on the club.

As the legal proceedings unfold, the outcome will undoubtedly have far-reaching consequences for the reputation of Tottenham and its ownership.

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