British billionaire Joe Lewis – whose family trust owns Tottenham – has been bailed by a judge in New York after pleading not guilty to charges of giving insider trading tips.
The 86-year-old, who faces 16 counts of securities fraud and three counts of conspiracy, appeared at an arraignment hearing at Manhattan Federal Court on Wednesday.
After entering a not guilty plea Lewis was released on a bail of 300 million US dollars (£230m), reportedly secured by a yacht and private aircraft equivalent to that amount.
Lewis, and two of his pilots who are also facing charges, must remain in the United States.
Prosecutors say Lewis, who was arrested on Wednesday morning, is alleged to have used his access to confidential information to provide stock tips to individuals close to him, with the indictment referring to one girlfriend having made 849,000 US dollars (£657,000) on one of those tip-offs.
Lewis’ legal counsel David Zornow, from the Skadden, Arps, Slate, Meagher & Flom firm, said: “The government has made an egregious error in judgment in charging Mr Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment.
“Mr Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.”
Each of the first 13 counts of securities fraud carries a maximum sentence of 20 years in prison, Manhattan prosecutors said in a statement issued on Wednesday.
The US Attorney for the Southern District of New York, Damian Williams, announced on Tuesday that Lewis had been indicted over a “brazen insider trading scheme”.
Prosecutors said Lewis, by virtue of his investments in certain companies, received material and non-public information about these companies.
A release from prosecutors on Wednesday alleged Lewis had “misused and misappropriated this confidential information to provide stock tips to various individuals in his life, including his employees, romantic partners, and friends, as a way to provide them with compensation and gifts”.
It added: “These individuals, in turn, traded on the tips provided by Lewis for vast personal gain.”
Lewis bought a controlling stake in Spurs in 2001 for £22million.
He officially ceded control of the club last year, with Bahamian lawyer Bryan A Glinton replacing him as a director according to Companies House.
His stake in the club – which he held through the ENIC Group alongside Daniel Levy – was formally handed to a family trust last year.
Family members of Lewis remain beneficiaries of the trust.
PA understands the Premier League does not consider Lewis as a person with control at Tottenham, and is therefore not subject to its owners’ and directors’ test.
A Tottenham spokesperson said: “This is a legal matter unconnected with the club and as such we have no comment.”
US prosecutors said Lewis is also alleged to have falsely disclosed the extent of his ownership shares in a pharmaceutical company, Mirati, “through an elaborate array of shell companies and other entities, including an offshore trust purportedly for the benefit of his granddaughter”.
As a result of this alleged false disclosure, prosecutors said he was able to exercise warrants in Mirati that he would otherwise not have been able to exercise, “at vast financial gain”.
Also charged were Patrick O’Connor and Bryan Waugh, two pilots employed by Lewis to fly his private aircraft. In one instance, it is alleged Lewis loaned each of them 500,000 US dollars (more than £387,000) to buy shares in a company before it publicly announced favourable information about some clinical results.
Federal Bureau of Investigation (FBI) acting assistant director in charge Christie M Curtis said: “As alleged, Mr Lewis treated material, non-public information at his disposal as though it was something he could give his friends and associates for their benefit.
“This type of behaviour – blatant disregard for the law – is not only illegal but undermines the integrity of our financial markets.
“The FBI is determined to ensure that anyone willing to perpetrate insider trading schemes is held accountable in the United States criminal justice system.”
Back in the fold? Gilbert hints at return of World Cup Girlz for Brazil friendlies
For the first time in almost nine months, it seems as if Jamaica’s interim Reggae Girlz Head coach Xavier Gilbert will have members of the World Cup squad at his disposal when they visit Brazil for two-match friendly international series in June.
The Girlz, who first locked horns with Brazil, and lost 0-3, at the 2019 FIFA Women’s World Cup in France, went one better at last year’s global showpiece in Australia, as they not only held the South American giants to a goalless stalemate, but also ensured their elimination at the group stage.
By all indications, that performance, and by extension, the fact that the Girlz made an historic appearance in the knockout stages of the World Cup, earned them even more respect from the number 10-ranked Brazilians, who are currently in preparation for this summer’s Olympic Games in Paris.
The games scheduled for June 1 and 4 are expected to assist Brazil in their preparation, while the now 42nd-ranked Jamaicans will get a much-needed test to regain their appetite for international competition, having last sported the nationals colours against Canada last September.
Since that Olympic qualifying fixture in Canada, members of the World Cup squad withdrew their services from national representation, citing lack of payment and mistreatment from the Jamaica Football Federation (JFF), among their reasons.
While it is yet to be confirmed how many, if any, of the World Cup players will make the trip, Gilbert gave the clearest indication yet that there might be a few, as he welcomed the games, after not utilizing the last FIFA window.
“It is always important to secure games during the international window. It not only assists in exposing players, but it also ensures the team is active, which helps our rankings, and also our quality of play. Because as you know, the more we play together, especially against quality opponents, the better the team becomes, and we also get to work on different things both offensively and defensively,” Gilbert told SportsMax.TV.
“The expectation is for us to give a good account of ourselves, it has been a while since these players have played together, but the good thing is that they are actively engaged in their respective leagues in Europe and United States. So, it is not like they were inactive, and obviously, it is not the first time they will be playing together.
“So, we just have to keep things as simple or as close to what we did prior to, and during the World Cup, to make sure we are competitive. It is going to be a little bit different, but it’s not far-fetched that we can get another positive result against Brazil,” he added.
Paris Saint-Germain 3-3 Le Havre: Ramos rescues point but title confirmation must wait
Paris Saint-Germain were held to a 3-3 draw at home to relegation-battling Le Havre on Saturday and will need to wait before confirming their 12th Ligue 1 title.
PSG would have clinched the title with three games to spare with a victory. They have a 12-point gap over second-placed Monaco, who are at Lyon on Sunday, and a goal difference of 47 to Monaco's 18.
The away side opened the scoring in the 19th minute through Christopher Operi and PSG levelled 10 minutes later with Bradley Barcola scoring, but Le Havre went ahead again seven minutes before the break when Andre Ayew found the net.
Le Havre made it 3-1 with an Abdoulaye Toure penalty in the 61st minute, before Achrif Hakimi gave PSG hope with a goal 12 minutes from time and Goncalo Ramos levelled in added time. Le Havre are 15th on 29 points.
Aston Villa 2-2 Chelsea: Gallagher caps Blues fightback at Villa Park
Conor Gallagher scored the equaliser as Chelsea fought back from two goals down to clinch a deserved 2-2 draw with Champions League-chasing Aston Villa on Saturday.
Villa looked set to go nine points clear of Tottenham in the race to finish in the Premier League's top four, with Marc Cucurella's own goal and Morgan Rogers' low drive giving them a handsome half-time lead.
Mauricio Pochettino's men dominated much of the first half without reward, but they continued to press after the interval and cultured finishes from Noni Madueke and Gallagher dragged them level.
They almost completed a fine comeback in stoppage time, but there was relief for Villa when referee Craig Pawson disallowed a goal for Chelsea defender Axel Disasi following a VAR review due to an infringement from Benoit Badiashile.
It meant Villa boss Unai Emery was unable to celebrate his new long-term contract with three points, with his team now seven points clear of fifth-placed Spurs, who have three games in hand on their rivals.
Chelsea stay ninth and are five points adrift of the top seven, but with a game in hand to come, their European hopes are not yet over.
Villa made a flying start and were ahead within four minutes, albeit in somewhat fortunate circumstances. John McGinn didn't get a clean connection on Lucas Digne's left-wing cutback, but his shot bounced off Cucurella and into the net.
Chelsea thought they were level after 16 minutes as Nicolas Jackson raced clear to finish into the roof of the net, but his strike was disallowed for offside after a VAR review, with replays showing he was leaning beyond Matty Cash.
Jackson should then have equalised when found by Cucurella six yards out, but he could only send his header against the foot of the post and wide.
Villa then doubled their lead against the run of play shortly before half-time, with Djordje Petrovic powerless as Rogers squeezed his shot through Trevoh Chalobah's legs and in.
A hamstring injury saw Villa goalkeeper Emiliano Martinez withdrawn at half-time, and his replacement Robin Olsen was beaten after 62 minutes, Madueke stroking home after Gallagher forced a high turnover.
Olsen stuck out an arm to deny Madueke a second with 71 minutes gone, but he had no chance as the Blues levelled with nine minutes to play, Gallagher rifling a left-footed finish into the top-left corner.
Chelsea thought they had won it when Disasi headed home five minutes into stoppage time, but referee Pawson disallowed the goal following a VAR review, with Badiashile adjudged to have fouled Diego Carlos in the build-up.
Villa throw it away
Villa could hardly have wished for a stronger position at half-time. Despite Chelsea carving out several good openings, they found themselves 2-0 up and primed to exploit their opponents further through the pace of Ollie Watkins and Leon Bailey.
Chelsea had lost 16 of their previous 18 Premier League games when trailing at half-time (one win, one draw), losing their last eight when two or more goals behind at the break.
However, Emery's men simply didn't get going after the restart, and only a late VAR review saved them from a crushing defeat, with Disasi's potential winner chalked off for a foul by fellow defender Badiashile.
Gallagher leads from the front
Gallagher has polarised opinion at times this season, but Chelsea's stand-in skipper produced a talismanic display just when his team needed him most at Villa Park.
The England international is known for his tenacious work out of possession, and he forced a turnover on the corner of the Villa box in the build-up to Madueke's goal.
Gallagher's own strike, which flew into the top corner to stun the home faithful, took him to double figures for Premier League goal involvements for the season (four goals, six assists). He has only achieved that feat in one other campaign in the competition, scoring eight goals and adding three assists on loan at Crystal Palace in 2021-22.
Four of his seven Premier League goals for Chelsea, meanwhile, have now come from outside the area.
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