Who is Joe Lewis? The secretive billionaire Tottenham owner charged with insider trading
Joe Lewis, the billionaire owner of Tottenham Hotspur, has been indicted in the US on charges of insider trading. Lewis has been accused of “abusing his access to corporate boardrooms” to provide information to lovers, friends and even his private pilots. Lewis has denied the charges. In a statement, his lawyers said they would “vigorously fight” to clear his name. Who is Joe Lewis and how did he make his money? Lewis made his fortune primarily in foreign exchange and investment. He is ranked 39th among the UK’s wealthiest people, according to the Sunday Times Rich List, with a net worth of £5bn. Born in the East End of London in 1937, Lewis left school at 15 to work for his father’s catering company. He took over and rapidly expanded the business into a series of themed restaurants aimed at tourists, before selling in 1979, giving him more money to invest in his new venture, currency trading. Lewis gave Robert Earl, who later founded Hard Rock and Planet Hollywood, his first job. He was ferociously successful at working the currency markets during the 1980s and 1990s, notably betting that Britain would be forced to exit the European Monetary System, which it did in September 1992 amid the ‘Black Wednesday’ financial crisis. He earned the nickname The Boxer, a reference both to his power in the investment ring and his legendary almost namesake, Joe Louis. But he endured bruising defeats too, and lost $1bn – then a third of his fortune – in a single day when the American bank Bear Stearns collapsed at the start of the 2008 financial crisis. His $1.2bn stake was reduced to $22m in a matter of hours. Lewis owns the Tavistock Group, first set up in 1975 and now one of the most renowned and powerful private equity organisations in the world. He founded the business in the Bahamas to escape UK tax laws. Along with his Bahamian mansion, Lewis owns a ranch in Argentina (which has caused conflict with local residents), multiple homes in Florida and more property across the world. The 86-year-old is married to his long-term secretary Jane, and has two children by his first wife, Esther Browne. His son Charles lives in Argentina and is largely disconnected from the family business, but his daughter Vivienne is heavily involved. She serves on Tavistock’s board of directors and is president of the prestigious Isleworth Golf and Country Club in Florida, which Lewis owns. He has a waterfront mansion on the 600-acre Isleworth property, which is surrounded by heavy security. Lewis almost never makes public statements or conducts media interviews. Lewis loves golf, and counts Tiger Woods not only as a close friend and neighbour but also a business partner. Together they embarked on a 600-acre luxury resort called Albany on New Providence Island in the Bahamas, alongside fellow golfer Ernie Els and the singer Justin Timberlake. Albany features a mega-yacht marina, lavish villas and a championship golf course which hosts Tiger Woods’ invitational tournament, the Hero World Challenge. What has Lewis spent his fortune on? Lewis has a diverse portfolio of investments all over the world, including luxury resorts in the Americas, property in Bulgaria and even an Australian agriculture company. The development arm of Tavistock is building a 17 square-mile community at Lake Nona near Orlando, Florida, where Disney is to move its headquarters. He owns a superyacht called Aviva, which is 98m long and took three years to build. It’s most striking feature is an indoor paddle tennis court, Lewis’s daily activity, at the heart of the boat. His wardrobe is particularly decadent, described by designer Andrew Langton as “bigger than my house in France”. Lewis owns one of the most expensive private art collections in the world, including original works by Picasso and Matisse, many of which are aboard Aviva. Through Tavistock, via the ENIC Group, Lewis also owns Tottenham Hotspur. He bought 29.9% of Tottenham in 1991, and increased his stake to a majority holding in February 2001, buying out most of Lord Sugar’s shares. Despite appearing to have little interest in football, rarely showing up at Tottenham’s training ground or matches, Lewis has invested in a number of clubs including Rangers – supposedly encouraged by his former neighbour in the Bahamas, Sean Connery – and Slavia Prague. After 21 years in charge of Tottenham, Lewis is the Premier League’s longest-serving owner. The club have since moved into a world-leading stadium and reached the Champions League final in 2019, but they have won only one trophy during Lewis’s ownership and his man in charge – Spurs chairman Daniel Levy – is under increasing pressure to deliver results on the pitch. The charges brought against Lewis could disqualify him from owning Spurs under Premier League rules, should he be found guilty. What has he been charged with? Lewis has been indicted in New York for “orchestrating a brazen insider trading scheme”. Damian Williams, the US attorney for the Southern District of New York, said in a video released by his office: “We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends. “Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.” Williams described Lewis’s behaviour as “classic corporate corruption”. He said: “Now, none of this was necessary. Joe Lewis is a wealthy man. But as we allege, he used inside information as a way to compensate his employees or to shower gifts on his friends and lovers... It’s cheating, and it’s against the law. Laws that apply to everyone, no matter who you are. That’s why Joe Lewis has been indicted and will face justice here in the Southern District of New York.” A Tottenham club spokesperson said: “This is a legal matter unconnected with the club and as such we have no comment.” Read More Billionaire and Tottenham Hotspur owner Joe Lewis indicted in US for ‘brazen insider trading’
2023-07-26 18:26
Declan Rice excited by chance to help Arsenal ‘get back to the big time’
Declan Rice is aiming for Premier League and Champions League glory at Arsenal, insisting he will take his £105million price tag in his stride. The England midfielder joined from London rivals West Ham earlier this month after the two clubs negotiated how the record payment for a British player in the Premier League would be broken down. Now Rice is in the United States, having joined his new team-mates to prepare for the upcoming campaign, with the Gunners aiming to go one better than their second-placed finish last season. Mikel Arteta’s side will also return to the top table of European football for the first time since 2017 and Rice is hungry for success, having lifted the Europa Conference League trophy in his final game as West Ham skipper. “I think it’s time now. You know Arsenal under Mikel have won Community Shields, FA Cups, but I think now, this is a massive club, it’s constant pressure of delivering titles and it’s been such a long time now since Arsenal won the Premier League,” Rice told Sky Sports News. “Last year was so close, I feel like we’re better off now this year, learning from that experience. I think that’s definitely a target and of course you’re in the Champions League, you go into the Champions League to win, you don’t go into (it) just to take part. “There’s always a narrative around Arsenal that they’re not going to win the Premier League or they haven’t been good enough. There's always a narrative around Arsenal that they're not going to win the Premier League or they haven't been good enough Declan Rice “But I didn’t see it in that way at all. I see it in a way that he (Arteta) has improved the squad every year. The players have improved individually. Everyone’s gone up another level and when I spoke to Mikel about the way he wanted me to play, where he sees me playing and the vision he has for Arsenal. “For me it is really exciting now to be a part of this project that Arsenal can get back to the big time and win some trophies.” Rice’s arrival at the Emirates Stadium has eclipsed Arsenal’s previous transfer record – the signing of Nicolas Pepe from Lille for £72m – and will see West Ham receive a guaranteed £100m, with a potential £5m in add-ons. The 24-year-old believes it is unfair he will carry increased expectations because of his price tag but insists he will not be weighed down by it. “I just try to take everything in my stride. I can’t control what I’ve been bought for, that’s obviously been determined on how well I’ve played consistently over the last couple years,” he added. “West Ham have obviously set that price, I tried to take it all of my stride, I’ve not really thought about the price tag once. I’ve been brought to Arsenal for a reason and that is to perform, to play football. To try and add to the squad, to try and win trophies. “I’m not going to get involved in price tags. Of course people have always got opinions, you can’t please everybody. Someone’s always got something to say, but what’s important is that the manager, you know you’ve got his support, you’ve got family support, people that are close to you, that’s all that matters. “I won’t try to think about that too much and to be honest with you, I haven’t. It’s football. A lot of players have been bought for £80, £90, £100million. It’s our profession. It’s just down to us to perform. So over the six years (of his contract), hopefully I can repay that price tag.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Mark Cavendish reveals depths of depression in new documentary Seamer James Anderson still hungry to play Test cricket for England Academy study shows Chelsea and Arsenal produce most Premier League players
2023-07-26 18:19
Greece fires in maps and satellite images show extent of damage
Maps, satellite images and before and after pictures show the extent of wildfires across Greece.
2023-07-26 16:51
Football rumours: West Ham confident over Conor Gallagher despite rejected bid
What the papers say West Ham believe they are still in the box seat to sign Chelsea midfielder Conor Gallagher despite a rejected £40million bid, the Evening Standard reports. Tottenham are also interested in the 23-year-old. The Mirror says the Bayern Munich’s chief executive Jan-Christian Dreesen and technical director Marco Neppe have not joined the club on their trip to Japan to stay behind to work on another bid for Harry Kane. Tottenham want £100million for the England captain. Liverpool have had their bid for Southampton midfielder Romeo Lavia rejected with the £35million offer deemed not enough, according to the Guardian. Southampton are hoping for a bid closer to £50million. Social media round-up Players to watch Fabinho: The Liverpool midfielder looks set to start pre-season training with the club which could be a blow to Saudi Pro League team Al Ittihad who are hoping to sign the 29-year-old, the Athletic reports. Bernardo Silva: The Manchester City midfielder looks set to stay after the club told the 28-year-old they do not want to sell him, despite his desire to leave, 90 min says. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
2023-07-26 14:29
Simple, versatile, delicious: Blackberry and peach crumble
This recipe is so simple and versatile – I use it to top fruit throughout the seasons,” says chef Emily Scott. “It is lighter than a traditional oat crumble topping, and delicious served with custard or crème fraîche.” Blackberry and peach crisp Serves: 4 Ingredients: For the Amaretti crumble topping: 160g (5½oz) amaretti biscuits 80g (3oz/scant 1 cup) flaked (slivered) almonds 75g (2½oz) unsalted butter, at room temperature 50g (2oz/scant ½ cup) plain (all-purpose) flour 50g (2oz/scant ¼ cup) caster (superfine) sugar For the bramble and peach filling: 350g (12oz) blackberries 6 peaches, skinned and stoned (pitted), sliced (if using frozen peaches, thaw and drain first) 100g (3½oz/scant ½ cup) caster (superfine) sugar 3 tbsp cornflour (corn starch) slaked with 2 tbsp water Zest and juice of ½ lemon Method: 1. Preheat the oven to 200C (180C fan/400F/gas 6). For the crumble topping, blitz the amaretti biscuits with the flaked almonds in a food processor to a rubble. 2. In a mixing bowl, rub the butter and flour together to resemble breadcrumbs, then add the sugar along with the almond rubble and mix together. 3. Spread the mixture out over a baking sheet and bake in the oven for 10-15 minutes until golden. Allow to cool. 4. For the filling, place the blackberries, peaches, sugar, cornflour mixture, lemon zest and juice in a heavy-based saucepan and slowly bring to a simmer, stirring all the time to allow the sugar to dissolve. Cook until the fruit is tender. 5. Transfer to an oven-to-table baking dish and sprinkle over the amaretti crumble topping. Finish off in the oven for 5–6 minutes. Don’t forget the cream. ‘Time & Tide’ by Emily Scott (Hardie Grant, £28).
2023-07-26 13:47
Tottenham owner Joe Lewis indicted in the US for ‘brazen insider trading scheme’
Tottenham owner Joe Lewis has been indicted in New York for “orchestrating a brazen insider trading scheme”, a US attorney said. Damian Williams, the US attorney for the Southern District of New York, said in a video released by his office: “Today I’m announcing that my office, the Southern District of New York, has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme. “We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends. “Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.” Mr Williams described Lewis’s behaviour as “classic corporate corruption”. He said: “Now, none of this was necessary. Joe Lewis is a wealthy man. But as we allege, he used inside information as a way to compensate his employees or to shower gifts on his friends and lovers. “That’s classic corporate corruption. It’s cheating, and it’s against the law. Laws that apply to everyone, no matter who you are. “That’s why Joe Lewis has been indicted and will face justice here in the Southern District of New York.” Lewis, 86, is the founder and primary investor of Bahamas-based investment firm Tavistock Group. He bought a controlling stake in the Premier League club from Lord Sugar in 2001 for £22million.
2023-07-26 07:52
Charlotte Football Coach Calls Out Disrespect By Disinterested Media at AAC Media Day
Biff Poggi was not happy at AAC media day.
2023-07-26 06:18
Jim Harbaugh facing 4-game suspension over NCAA violations
The NCAA and Michigan are reportedly working towards a resolution that would suspend head coach Jim Harbaugh for the first four games of the season.The 2023 college football season is nearly upon us, and predictions are going to begin to fly as to which teams will win their conferences, who will...
2023-07-26 04:15
New Jersey Governor keen to host Premier League and Champions League matches
New Jersey Governor Phil Murphy would love to bring competitive Premier League and Champions League matches to the state. Football is thriving in North America right now, with Lionel Messi joining Major League Soccer side Inter Miami three years out from the USA, Mexico and Canada hosting the World Cup. The so-called ’39th’ Premier League game has been discussed before and UEFA president Aleksander Ceferin recently hinted that a Champions League final could one day be played in the US. “I know that the clubs have not been wild about that in Europe but I’d love to think that it would happen,” Murphy said. “You would have Barcelona playing Real Madrid in New Jersey at some point in a regular season or in a Champions League game. I would love that. “I would just appeal either to the Champions League, if that’s UEFA, and play a game here. “I can say unequivocally, we would die to have a real competitive game anywhere in America. If it was in New York-New Jersey, you wouldn’t get near that game. “It would be overwhelming. To have a Champions League game, you wouldn’t be able to get near it.” I can say unequivocally, we would die to have a real competitive game anywhere in America Phil Murphy Murphy was speaking in a media briefing on Saturday before cavernous MetLife Stadium recorded its highest ever attendance for a club football match. There were 82,262 in attendance for Manchester United’s 2-0 friendly win over Arsenal at a stadium that Murphy believes should host the 2026 World Cup final. New York-New Jersey is also among the host cities and Murphy believes the showpiece should come to East Rutherford. “We’re fighting like heck to get the final, which is to be determined,” Murphy said. “I think LA and Dallas’ names come up from time to time. I think Miami comes up. “Messi may be single-handedly recalculating the odds for Miami but we think when you add everything up we have got the winning package, but we’ll see. We’re not taking anything for granted. “When people think of America, I think New York and Los Angeles are the two communities that rise above everyone else. “I think the logic tells me you go to one of those two cities and with all due respect to them, we think we play a stronger hand. “We think for time zone and stadium size we’re bigger. I assume the decision gets made at the highest levels. They love what they see here.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Review process will lead to a better Cricket Scotland – Pete Fitzboydon Ben Earl commends England coach Steve Borthwick’s tactful approach with squad Ponting discusses uncanny resemblance with Harman – Tuesday’s sporting social
2023-07-26 02:59
Today at the World Cup: Philippines stun New Zealand as Norway are held
Debutants Philippines stunned co-hosts New Zealand to claim their first Women’s World Cup victory. Norway’s hopes are in the balance after their draw with Switzerland while Colombia cruised past South Korea. Here, we take a look at all of Tuesday’s action. Philippines pull off shock result Sarina Bolden’s first-half winner made World Cup history as the Philippines grabbed their first-ever win after beating New Zealand 1-0 in Group A. Bolden’s 24th-minute header was the difference as the co-hosts wasted their chance to build on their opening win over Norway with Jacqui Hand hitting the post and having a goal disallowed. The Philippines struck midway through the first half when Bolden headed past Victoria Esson from close range. Norway off the boil Norway’s World Cup hopes hang by a thread after a stalemate with Switzerland. Norway, who were stunned by New Zealand in their opener, lost star forward Ada Hegerberg to injury just before kick-off. Swiss goalkeeper Gaelle Thalmann kept them out and Norway will now need to beat Philippines and hope results elsewhere go their way to avoid an early exit. Colombia kick off with win Colombia brushed aside South Korea 2-0 in their Group H game in Sydney. Catalina Usme – Colombia’s all-time top scorer – broke the deadlock from the spot after Shim Seo-Yeon’s handball. Real Madrid’s 18-year-old Linda Caicedo doubled the lead soon after with her shot slipping past Yoon Young-Geul in the Korea goal. Post of the day Quote of the day I don't know if there's been a bigger win for Philippines' sport. It has to be one of the biggest wins in the history of the country Philippines manager Alen Stajcic Up next Group B: Canada v Republic of Ireland (7am, Perth Rectangular Stadium)Group C: Japan v Costa Rica (6am, Dunedin Stadium)Group C: Spain v Zambia (8.30am, Eden Park) Read More Japan fans stay behind after Women’s World Cup match to clean stands Today at the Women’s World Cup: Bonmati shines as Spain make statement Today at the World Cup: Australia and New Zealand celebrate winning starts 3,000 runs and 200 wickets – Moeen Ali reaches impressive Test landmark New Zealand squad stayed calm after hearing of Auckland shooting Auckland shooting takes place just 5km from venue of World Cup match
2023-07-26 01:54
Recall Alert: These Trader Joe’s Cookies May Contain Rocks
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2023-07-26 00:16
2023 Women's World Cup: Australian football suffers despite Matildas
The team's success is despite conditions in Australia, not because of them, those in the sport say.
2023-07-25 23:50