Joe Lewis, the billionaire owner of the Tottenham Hotspur Premier League soccer team, will plead guilty in Manhattan Wednesday in his insider trading case, Bloomberg reported, six months after he was charged with securities fraud for allegedly passing inside information to his girlfriend and others in his circle.
Tottenham Hotspur Football Club owner Joe Lewis leaves Manhattan federal court in New York City on ... [+]
Joe Lewis, 86, was indicted along with two of his private pilots on insider trading and securities fraud in July and initially pleaded not guilty to the 16 charges against him.
Federal prosecutors in the U.S. District Court for the Southern District of New York accused Lewis, who has an estimated net worth of $6.2 billion, of "repeatedly" passing insider information to his business associates, as well as the pilots and his girlfriend.
David M. Zornow, Lewis’ lawyer, told Bloomberg Lewis would enter the plea Wednesday in court; Zornow did not immediately respond to Forbes’ request for comment Wednesday morning.
This is a developing story and will be updated.
Lewis is the owner of the Tavistock Group, which owns Premier League soccer team Tottenham and has a stake in U.K. pub operator Mitchells & Butlers. He is also the owner of a 321-foot super yacht, which was used to secure his $300 million bail after his indictment in July, according to The Athletic. He was ranked as the 443rd richest person in the world as of Wednesday with an estimated net worth of $6.2 billion.