Monday, September 25, 2023
Monday, September 25, 2023
Monday, September 25, 2023

High-Flying Billionaire’s Stunning $300M Bond Move Amid Insider Trading Case




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In a jaw-dropping twist of events, British billionaire and owner of Tottenham Hotspur soccer club, Joe Lewis, has found himself entangled in an insider trading case.

Surrendering to federal authorities in New York, the 86-year-old magnate faces charges of providing confidential information to numerous individuals, leading to substantial gains in the stock market.

The court appearance saw Lewis donning a classic grey suit, white shirt, and black tie, passionately proclaiming his innocence with a “not guilty” plea. However, securing his freedom came at a staggering cost of a $300 million bond.

The collateral for this mind-boggling sum? His luxurious superyacht “AVIVA,” worth a staggering $250 million, and his own private plane, according to Yachtbible.

But the ordeal doesn’t end there for Lewis. As part of the bail agreement, he must keep the FBI informed about the whereabouts of his prized yacht, “AVIVA.” Moreover, his use of the personal plane is strictly limited to court appearances only, and he’s confined to specific regions in New York and Florida, unable to leave the country.

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As Your Content readers know, Lewis shared confidential information about companies such as Mirati Therapeutics, Solid Biosciences, and Australian Agricultural Co. during 2019 through 2021. Moreover, he is accused of conspiring to conceal his substantial stake in Mirati from 2013 through 2018, defrauding the US Securities and Exchange Commission and investors.

As the case unfolds, it’s revealed that Lewis even lent money to individuals so they could invest based on his tips. In one instance, he wired a staggering $1 million to two pilots who invested in Mirati Therapeutics, resulting in a 16.7% stock spike after a successful clinical trial announcement.

Lewis’s defense attorney, David Zornow, fiercely defended his client’s integrity and accomplishments, deeming the charges an “egregious error in judgment.” Meanwhile, the two pilots involved in the scheme, Patrick O’Connor and Bryan Waugh, also pleaded not guilty and were each released on a $250,000 bond.

The scandal has sent shockwaves through the world of soccer and finance, leaving many wondering how a story of such magnitude unfolded behind the scenes of the prestigious Tottenham Hotspur club. As the legal battle ensues, only time will tell what lies ahead for Joe Lewis and the implicated pilots.

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