Alkass Digital
The 86-year-old, who is one of Britain's richest men, is accused of tipping employees, associates and friends for non-public information about businesses in which he had invested, and to have loaned some of them hundreds of thousands of dollars to trade on them.
According to the unsealed indictment in federal court in Manhattan, Joe Lewis and his accomplices collectively were able to earn millions of dollars using the allegedly stolen information, which included favorable clinical trial results.
For a period of at least eight years, Lewis used the information given to him as a member of the board of directors of certain companies to help those in his orbit know when to buy stocks or sell them. before their value dropped, prosecutors said.