Last July, the 86-year-old – who resides in the Bahamas – was arrested on suspicion of providing knowledge of his companies to close associates, including friends, partners and private pilots.
Over an eight-year period, from 2013 to 2021, Lewis allegedly passed confidential information to his contacts, allowing them to make very large profits in the stock market.
Lewis faces a total of 19 counts, 16 counts of securities fraud and 3 counts of conspiracy, but the London-born billionaire has reached a deal with prosecutors.
The former Tottenham boss admitted one count of conspiracy and two counts of securities fraud and expressed regret in court, saying: “I am very embarrassed and apologise to the court for my conduct. “
U. S. District Judge Jessica Clarke set Lewis’ sentencing for March 28, and he may face a maximum criminal sentence of forty-five years, which he can appeal.
Lewis’s investment firm, ENIC Group, took its first stake in Tottenham Hotspur in 1991, and 10 years later bought a majority stake from Sir Alan Sugar for £22m.
In October 2022, however, Lewis ceased to be a user exercising “significant control” over the north London giants, which are now owned by the family accepted and managed on a daily basis by chairman Daniel Levy.