British billionaire Joe Lewis, whose family trust owns the Tottenham Hotspur football club, has pleaded not guilty to insider trading and conspiracy charges, and has been released on a $300 million personal recognizance bond.
Federal authorities announced the arrest of Lewis and two of his personal pilots on Wednesday.
U.S. Attorney Damian Williams said Lewis had orchestrated a brazen insider trading scheme that utilized secrets he learned in corporate boardrooms to the benefit of his romantic partners, personal assistants, friends and pilots.
Williams said he used inside information to compensate employees and shower gifts on friends and lovers. His attorney says he'll fight the charges vigorously. Two of Lewis' pilots also pleaded not guilty to related charges.
Tottenham, meanwhile, have clarified that Joe Lewis is no longer the owner and that it is a ‘legal matter unconnected to the club’
Also read: Prankster Mark Wood hijacks Ben Stokes' press conference