Former Tottenham owner Joe Lewis has pleaded guilty to three charges relating to insider trading in a US court.
Eighty-six-year-old businessman Lewis, whose family trust controls a majority share in Tottenham, was accused of passing inside information on his portfolio companies to a series of individuals last year.
They included his private pilots, friends, personal assistants and romantic partners, who US authorities said made millions of dollars from what was described as “a brazen insider trading scheme”.
Lewis was charged with 16 counts of securities fraud and three counts of conspiracy last July. He has pleaded guilty to a conspiracy charge as well as two counts of securities fraud after striking a deal with prosecutors.
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Addressing U.S. District Judge Jessica Clarke in court, Lewis said: “I am so embarrassed, and I apologise to the court for my conduct.”
The London-born billionaire is expected to be sentenced in late March.
Lewis founded the investment firm Tavistock Group in 1975 and Forbes estimate his worth at around $6.2billion (£4.8billion).
He was the majority owner of Tottenham between 1991 and 2022, when his shareholding was passed to the Lewis Family Trust and he was removed as a “person with significant control” over the club.
