British billionaire Joe Lewis – whose family trust owns Tottenham – has been bailed by a judge in New York after pleading not guilty to charges of giving insider trading tips, according to reports.
The 86-year-old, who faces 16 counts of securities fraud and three counts of conspiracy, appeared at an arraignment hearing at Manhattan Federal Court on Wednesday.
After entering a not guilty plea Lewis was released on a bail of 300 million US dollars (£230m), reportedly secured by a yacht and private aircraft equivalent to that amount.
Lewis, and two of his pilots who are also facing charges, must remain in the United States.
Prosecutors say Lewis, who was arrested on Wednesday morning, is alleged to have used his access to confidential information to provide stock tips to individuals close to him, with the indictment referring to one girlfriend having made 849,000 US dollars (£657,000) on one of those tip-offs.
Lewis’ legal counsel David Zornow, from the Skadden, Arps, Slate, Meagher & Flom firm, said: “The government has made an egregious error in judgment in charging Mr Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment.
“Mr Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.”
Each of the first 13 counts of securities fraud carries a maximum sentence of 20 years in prison, Manhattan prosecutors said in a statement issued on Wednesday.
The US Attorney for the Southern District of New York, Damian Williams, announced on Tuesday that Lewis had been indicted over a “brazen insider trading scheme”.
Prosecutors said Lewis, by virtue of his investments in certain companies, received material and non-public information about these companies.
A release from prosecutors on Wednesday alleged Lewis had “misused and misappropriated this confidential information to provide stock tips to various individuals in his life, including his employees, romantic partners, and friends, as a way to provide them with compensation and gifts”.
It added: “These individuals, in turn, traded on the tips provided by Lewis for vast personal gain.”
Lewis bought a controlling stake in Spurs in 2001 for £22million.
He officially ceded control of the club last year, with Bahamian lawyer Bryan A Glinton replacing him as a director according to Companies House.
His stake in the club – which he held through the ENIC Group alongside Daniel Levy – was formally handed to a family trust last year.
Family members of Lewis remain beneficiaries of the trust.
PA understands the Premier League does not consider Lewis as a person with control at Tottenham, and is therefore not subject to its owners’ and directors’ test.
A Tottenham spokesperson said: “This is a legal matter unconnected with the club and as such we have no comment.”
US prosecutors said Lewis is also alleged to have falsely disclosed the extent of his ownership shares in a pharmaceutical company, Mirati, “through an elaborate array of shell companies and other entities, including an offshore trust purportedly for the benefit of his granddaughter”.
As a result of this alleged false disclosure, prosecutors said he was able to exercise warrants in Mirati that he would otherwise not have been able to exercise, “at vast financial gain”.
Also charged were Patrick O’Connor and Bryan Waugh, two pilots employed by Lewis to fly his private aircraft. In one instance, it is alleged Lewis loaned each of them 500,000 US dollars (more than £387,000) to buy shares in a company before it publicly announced favourable information about some clinical results.
Federal Bureau of Investigation (FBI) acting assistant director in charge Christie M Curtis said: “As alleged, Mr Lewis treated material, non-public information at his disposal as though it was something he could give his friends and associates for their benefit.
“This type of behaviour – blatant disregard for the law – is not only illegal but undermines the integrity of our financial markets.
“The FBI is determined to ensure that anyone willing to perpetrate insider trading schemes is held accountable in the United States criminal justice system.”
Pochettino says Chelsea in 'most challenging period' ahead of Spurs reunion
Mauricio Pochettino says facing his former club Tottenham will always be "emotional", but his full focus is on guiding Chelsea through a testing period ahead of Thursday's London derby at Stamford Bridge.
Pochettino enjoyed a successful five-year stint with Spurs between 2014 and 2019, leading them to a Champions League final and to three straight top-three Premier League finishes.
He has found the going more difficult since taking over a Chelsea side still going through a transitional period under the Todd Boehly regime, with the big-spending Blues sitting ninth in the Premier League table.
Chelsea did beat Tottenham 4-1 in a memorable return fixture in November, meaning Pochettino could become the first coach to complete a Premier League double over Spurs having previously managed them in the competition.
"It will be emotional coming up against people who I worked with for a long period. I can't hide my emotion for the club," Pochettino told reporters on Wednesday.
"But across 90 minutes we want to win and Tottenham are going to come here to try and win."
Chelsea are five points adrift of the top seven with a game in hand, and Pochettino believes the club are taking the first steps on a path similar to that followed by his Spurs team.
"Tottenham was amazing because the challenge was to create a team that could compete with top sides," he added.
"Now at Chelsea, we are in the process of building an exciting project that needs time and this is maybe the most challenging period."
Tottenham are in desperate need of points if they are to reel in Aston Villa and secure a top-four finish, having suffered back-to-back defeats against Newcastle United (0-4) and Arsenal (2-3).
Despite their recent slide, Ange Postecoglou is in no doubt that his team have made big strides this term, saying: "What I see is us playing football, measuring ourselves against the best.
"My players have got real belief in what we are doing. That's all I need to see."
PLAYERS TO WATCH
Chelsea – Cole Palmer
Palmer, whose tally of 20 Premier League goals this term has only been bettered by Erling Haaland (21), has scored hat-tricks in each of his last two home games, netting three goals against Manchester United and four versus Everton.
The only player to ever score three or more goals in three straight home Premier League matches is Haaland, who did so against Crystal Palace, Nottingham Forest and United last season.
Tottenham – Guglielmo Vicario
Vicario failed to command his area from corners as Arsenal scored twice from such situations in last week's North London derby, and it's an area in which the Italian needs to improve.
Only United (15.3) and Burnley (14.9) have allowed their opponents a higher cumulative expected goals (xG) figure from set-piece situations than Tottenham's 14.3 in the Premier League this season, though Chelsea's tally of 83 shots from dead-balls is a league-low number.
MATCH PREDICTION – DRAW
Chelsea have a great record against their London rivals, recording 34 Premier League wins over Spurs. Only United have beaten them more often in the competition, with 39 victories.
At Stamford Bridge, Chelsea have only lost one of the last 33 league meetings between the sides, going down 3-1 in April 2018 when Pochettino was in the Tottenham dugout.
Tottenham are looking to avoid suffering three straight Premier League defeats for the second time this season, having also done so in November – a run which began with their 4-1 defeat in the reverse fixture against Chelsea.
Postecoglou's men could think themselves unfortunate on that occasion, though, missing several good chances to get back into the game despite being reduced to nine men by red cards for Cristian Romero and Destiny Udogie.
One thing is for certain – goals should be expected. Chelsea have already conceded 59 Premier League goals this term, their most in a single campaign in the competition, while Spurs have shipped 52 and failed to keep a clean sheet in their last six matches. An entertaining draw could be on the cards.
OPTA WIN PROBABILITY
Chelsea – 39.9%
Tottenham – 32.6%
Draw 27.5%
De Rossi 'can do great things' at Roma, says former team-mate Cafu
Cafu admits he did not see former team-mate Daniele De Rossi becoming a head coach, but hopes the Roma boss can "do great things" with the Giallorossi.
The former midfielder replaced Jose Mourinho in the Stadio Olimpico dugout in January on a deal until the end of the season, and has overseen nine victories in 14 Serie A games - only losing to newly crowned champions Inter and fourth-place Bologna.
De Rossi's glittering career at Roma as a player, which brought over 600 appearances across an 18-year period, was in its infancy when he briefly played alongside Cafu for the Giallorossi during the early 2000s.
The former Brazil captain, who played 217 times between 1997 and 2003, helped the club win the Scudetto under Fabio Capello in the 2000-01 season, and was inducted into their Hall of Fame in 2012.
And the 53-year-old has been delighted by the strides De Rossi has made since their playing days.
"I know him well. He's that kid who used to play with us, who we saw grow up at Roma," Cafu told Stats Perform. "Now, he has become the boss of one of the most important teams in the world and in Italy, which is Roma.
"Things change a lot in football. He seemed to be a shy and calm guy, and yet he grew up, becoming this really great coach. We have to wish him good luck. I hope he can do great things.
"I am very happy when I see that my team-mates are doing well, working as coaches, deputy coaches, athletic trainers. It is always very pleasing for me to see that they have grown a lot in the world of football.
"It is even more pleasing to see that kid grow up, a kid that now has become a coach, a great one; I am very happy."
De Rossi is also overseeing another impressive European campaign for Roma, who were Europa League runners-up to Sevilla last term and back in the semi-finals of this season's competition.
The Giallorossi are gearing up for a mouth-watering showdown with newly crowned Bundesliga champions Bayer Leverkusen, who are unbeaten in all competitions.
"It's always hard to say when you're talking about two great teams," Cafu added. "Both Bayer and Roma are playing really well. I hope Roma can play a great game and get as far as they can."
Bruno Fernandes hints at Manchester United departure
Bruno Fernandes hinted he may leave Manchester United in the close season, but insisted he will not consider his future until after the European Championship.
The United skipper has been one of the Red Devils' standout performers during a tricky campaign for Erik ten Hag's side, who are sixth in the Premier League and six points behind fifth-place Tottenham with three games remaining.
Fernandes has chipped in with 26 direct goal involvements (15 goals, 11 assists) - the most by any United player - and became the first player to create over 100 chances in the Premier League this term during Saturday's 1-1 draw with Burnley.
The club are reportedly prepared to sell most of their top players in the close season under the new Jim Ratcliffe regime, though the Portugal international is still under contract at Old Trafford until June 2026.
With the European Championship and an FA Cup final against Manchester City on the horizon, the 29-year-old says that remains his top priority and he will focus on his future further down the line.
"I'm not thinking about other things at the moment. Obviously, it doesn't just depend on me, does it?" he told DAZN Portugal.
"A player always has to want to be here, but at the same time, you have to want him to stay. At the moment, I feel there's that on both sides.
"I'm not thinking too much about the future, not least because this season hasn't been at the level I’d hoped for - either individually or collectively - so far.
"If I have to think about not continuing in the Premier League, it won't be until after the Euros. Nothing will be able to take my focus away from the FA Cup final and the Euros, as there's nothing more important than that at the moment."
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