Tottenham owner Joe Lewis has been arrested and will appear in court in the United States on Wednesday charged with giving insider trading tips to friends, lovers and even his personal pilots.
The US Attorney’s Office for the Southern District of New York has charged the 86-year-old with 16 counts of securities fraud and three counts of conspiracy.
Prosecutors say Lewis 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 was arrested on Wednesday morning, prosecutors said, and will be presented later.
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, had 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.”
Pochettino says VAR 'damaging' English football as Chelsea denied Villa win
Mauricio Pochettino claimed VAR is "damaging" English football after Chelsea saw a potential winning goal chalked off at the end of their 2-2 Premier League draw with Aston Villa.
Despite a bright performance, Chelsea found themselves 2-0 down at half-time on Saturday with Marc Cucurella putting through his own net before Morgan Rogers added Villa's second.
Goals from Noni Madueke and Conor Gallagher dragged Chelsea level as they penned Villa back after the break, but the Blues were enraged in stoppage time when Axel Disasi saw a potential winner ruled out.
Disasi headed home in the fifth minute of stoppage time to spark wild celebrations among the visiting Chelsea fans, only for referee Craig Pawson to disallow the goal following a pitchside VAR review, ruling Benoit Badiashile pushed Diego Carlos in the build-up.
With that incident coming just one week after Chelsea were denied a penalty in their FA Cup semi-final loss to Manchester City despite Jack Grealish appearing to handle Cole Palmer's free-kick, Pochettino has had enough.
"Everyone that was watching the game will feel disappointed. The referee said it was a foul and disallowed the goal after going to the VAR to confirm," he told TNT Sports.
"The referee is unbelievable and it's ridiculous. It is difficult to accept these types of things. In the semi-final it was handball and it was no penalty, the referee didn't check it.
"It is painful as it has damaged English football and I think Villa players and their fans didn't understand why the goal was disallowed.
"They said it was a foul and if you see the challenge… if we go into every single challenge like this and it is going to be a foul, we wouldn't finish the game with 11 players.
"We can talk about the performance or the decision – it is damaging the game."
Pochettino had no complaints about Chelsea's performance, though, as they avoided defeat for just the fourth time in 51 Premier League games when trailing by two or more goals at half-time.
The Blues previously achieved that feat in a 3-3 draw with Sheffield Wednesday in 1992, a memorable 2-2 draw with Tottenham in 2016 and another 3-3 draw with West Brom in 2020.
Chelsea racked up 21 shots to Villa's nine and put up 1.57 expected goals (xG) to the hosts' 1.1, with Nicolas Jackson and Palmer spurning glorious chances in either half.
"The performance was very good," Pochettino said. "We played really well and it is true in the first half we conceded too easily.
"To play Villa, who are fighting for the top four, I am pleased with the team. Now, we have to move on and the headlines will be about the disallowed goal."
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.
Al-Khaleej 0-1 Al-Nassr: Ronaldo misfires on return as Laporte nets winner
Cristiano Ronaldo returned from suspension but failed to find the net as Al-Nassr secured a 1-0 win over Al-Khaleej on Saturday, with Aymeric Laporte coming up with the decisive goal.
Ronaldo was in action for the first time since being sent off for an elbow in a 2-1 Saudi Super Cup loss to Al-Hilal earlier this month, with his initial two-match ban being reduced to one on appeal.
He missed three good chances as Al-Nassr threatened to fall further behind runaway Saudi Pro League leaders Al-Hilal, but former Manchester City defender Laporte spared his blushes by nodding Marcelo Brozovic's deep free-kick into the bottom-left corner with 68 minutes gone.
Al-Nassr remain nine points adrift of Al-Hilal at the summit in spite of their win, with Jorge Jesus' team unbeaten through 28 games this season as they close in on a record-extending 18th title.
Data Debrief: Ronaldo misfires on return
Ronaldo was presented with the Saudi Pro League's Player of the Month award for March ahead of kick-off, having scored four goals in three league appearances last month.
However, his sights were off on Saturday as he failed to net despite three of the visitors' four big chances, as defined by Opta, falling his way. He led all players on the pitch for expected goals (1.27 xG), shots (five), shots on target (three) and touches in the area (nine) without reward.
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