British Billionaire Joe Lewis Charged with Insider Trading Scheme by US Authorities

Prosecutors allege that Lewis used his access to corporate boardrooms to provide inside information to his employees, romantic partners, personal assistants, and friends, who then used this information to make millions of dollars in illegal trades.

The scheme allegedly took place over several years and involved false disclosure of ownership and the use of shell companies and trusts.

Lewis has pleaded not guilty to the charges and his lawyer has described the government's decision to charge him as "egregious error in judgment." The indictment does not mention Lewis's current residency in the Bahamas, but does note that he was born in London's East End and rose from humble beginnings to become a billionaire currency trader.

Lewis's Tavistock Group owns over 200 assets across 13 countries, including the UK pub operator Mitchells & Butlers, and his wealth is estimated at £4.65bn by Forbes.

He purchased a controlling stake in Tottenham Hotspur from Alan Sugar in 2001, and has been the club's owner since.

However, the indictment notes that Lewis ceased to be a "person with significant control" of the club last year, after the club said there had been a "reorganisation of the Lewis Family Trusts." The case is unrelated to the club, and a spokesperson for Tottenham Hotspur stated that it is a "legal matter unconnected with the club and as such we have no comment."