Tottenham owner, Joe Lewis, surrendered to US authorities after being charged with insider training.
Lewis, whose investments are largely held through a portfolio company, Tavistock Group, is alleged to have shared information about publicly traded life science groups Solid Biosciences and Mirati Therapeutics, as well as beef producer Australian Agricultural Company (AAC) and a special purpose acquisition company, BCTG.
British billionaire Joe Lewis has surrendered to US authorities after being charged with insider trading.
The 86-year-old turned himself in to federal authorities in Manhattan on Wednesday morning, a spokesperson for the US Attorney’s Office said. He is expected to appear in court in New York later in the day.
The 86-year-old, who is one of Britain’s richest men, is accused of tipping off employees, associates, friends and romantic interests with non-public information about companies in which he had invested, and lending some of them hundreds of thousands of dollars to trade on the knowledge.
According to the indictment unsealed in Manhattan federal court on Tuesday, Lewis and his associates were collectively able to make millions of dollars using the “stolen” information, which included favourable results from clinical trials.
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