Joe Lewis charged over alleged insider trading

[Geez]

Joe Lewis has been charged with "orchestrating a brazen insider trader scheme", US attorney Damian Williams has said.

Mr Lewis "has been indicted and will face justice" in the Southern District of New York (SDNY), Mr Williams said.

BBC Football 26 Jul 23

 

[mawspurs]

Seems like those allegations would be hard to prove unless there is a whistle blower.

 

[Gassin's finest]

O triffic

 

[SPURSLIFE]

They say "Showering gifts to his friends and lovers" with inside information. Shame he didn't shower his football club with a bit more.

 

[Donki]

This is clearly why all mention of JL has been removed from pretty much all documentation in the club. He has clearly known this has been coming for a while, certainly still has bad PR for the club. Not good.

 

[Donki]

They say "Showering gifts to his friends and lovers" with inside information. Shame he didn't shower his football club with a bit more.

I think I do recall a few stories of players getting gifts at new contract time.

 

[jolsnogross]

Nice club hierarchy here. Accepting bids from Moscow and indictments for financial crimes.

 

[SPURSLIFE]

Nice club hierarchy here. Accepting bids from Moscow and indictments for financial crimes.

Add to the fact that we could very easily sell the club to Saudi.

 

[Henderson Yid]

Seems like those allegations would be hard to prove unless there is a whistle blower.

Whistle blower implies someone coming forward of their own volition. I would suspect this is more that someone's (some many's?) been flipped by the rozzers investigating unusual patterns.

 

[wakefieldyid]

Seems like those allegations would be hard to prove unless there is a whistle blower.

Reading the report in the Guardian, there's potentially a money trail that the authorities could follow. It's claimed that JL lent 2 employees $500k each to buy stock in a company in which he had inside knowledge, and they then pocketed the profit when they sold the stock, and returned the money to him. All these transactions will have been on the record, and the way that the US courts operate, both individuals will be pressurised to enter into a plea-bargain to dob Lewis in return for a lighter sentence for themselves.

 

[Locotoro]

Great comment from Reddit.

Joe Lewis will be spending more on his defence than on ours.