Joe Lewis, the owner of Tottenham Hotspur, is facing insider trading allegations. However, it is stated that Spurs will suffer no consequences if he is convicted. Lewis turned himself in to US officials in New York and is scheduled to appear in court later Wednesday.
He is currently facing accusations in the United States, where if convicted of insider trading, he may spend the rest of his life in jail. Lewis allegedly passed on financial information to some of his closest friends and associates, resulting in insider knowledge.
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This Monday, he turned himself up to police in New York. Tottenham Hotspur, on the other hand, will be spared the heat.
Lewis is the owner of the Tavistock Group, which has over 200 assets spread over 13 nations. He owns Tottenham Hotspur and the UK pub company Mitchells & Butlers through this. Forbes estimates his fortune to be £4.65 billion. In 2001, he paid Alan Sugar £22 million for a majority share in the Premier League team.
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However, he is no longer in command or has any influence in how Spurs are operated, nor does owner Enic. As a result, the outcome of his expected upcoming trial will have no bearing on the club.
Tottenham have quickly distanced themselves from the incident, claiming that it was “a legal matter unrelated to the club.” Lewis rejects all claims. Tottenham will be fine regardless of the decision. The club won’t be unaffected, so chairman Daniel Levy and the company may go about their business as normal.
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