Federal Attorney for the Southern District of New York, Damian Williams, announced that Joseph Lewis pleaded guilty to securities fraud and conspiracy to commit securities fraud through insider trading.。

Joseph Lewis, who was arrested in July 2023, was arrested today by U.S. District Judge Jessica G..L.Clarke pleads guilty in front of。In addition, Broad Bay Ltd, a corporate entity owned and led by Lewis.Today before Judge Clark pleaded guilty to a parallel criminal charge of participating in a securities fraud scheme, concealing Lewis' ownership stake in a pharmaceutical company through false declarations and misleading statements.。

Broad Bay Ltd.Agree to pay $50 million in fines and other penalties and continue to cooperate with the government's investigation.。

Joseph Lewis is a British billionaire investor and businessman whose family owns Tottenham Hotspur Football Club through the ENIC Sports company controlled by the Lewis family trust.。His sentencing hearing is scheduled for March 28.。

Based on the allegations contained in the indictment, additional information and other documents and court statements:

Joseph Lewis is a billionaire businessman and investor who is the principal owner of the Tavistock Group, an international private investment arm.。As a result of Lewis' investments in certain companies, he controls one or more board seats in those companies and appoints employees to serve on the boards of each company。Lewis, in turn, gained significant non-public information about these companies through these employees。

Over the course of several years, Lewis has repeatedly misused and misappropriated this confidential information to provide stock tips to different individuals in his life (including his employees, love partners, and friends) as a way to provide them with rewards and gifts.。These people, in turn, used the tips provided by Lewis to trade for huge personal gains。

In addition, Broad Bay Ltd.and other corporate entities under Lewis' command and control engaged in a scheme to conceal Lewis' ownership and control of a pharmaceutical company through false declarations and misleading statements。Lewis and his company must file a share ownership breakdown with the Securities and Exchange Commission (SEC) because he is the owner of more than 10% of Mirati Therapeutics (Mirati) stock。Lewis and entities controlled by him report to the SEC that he owns 16% to 19.99% of the stock, while in fact, he actually owns and controls Mirati through offshore shell companies and other entities over 19.99% of the stock。

As a result of the false disclosure of their ownership, corporate entities under Lewis' direction and control were able to exercise Mirati warrants that could not otherwise be exercised, resulting in significant financial gains。From around November 2013 to around November 2017, Lewis and certain entities under its control falsely swore in SEC filings at least 13 times that they owned an incorrect total number of Milati shares.。Around 2018, Mirati shares held by offshore entities were sold, and then the proceeds of approximately $25 million were transferred to Broad Bay Ltd..controlled accounts。

as Broad Bay Ltd.Part of plea, Lewis and Broad Bay Ltd.Agree that Lewis and his company resign and relinquish control of board seats and participation in board meetings of any U.S.-listed company, cease to own certain investments during a five-year probation period, cooperate with ongoing government investigations and prosecutions, and will pay $50 million in financial penalties, including $15,586,021 in fines and $34,413,979 in forfeiture.。

Lewis, 86, a Briton, pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud, the former punishable by up to five years in prison and the latter by up to 20 years in prison.。

Broad Bay Ltd pleads guilty to one count of securities fraud, punishable by up to five years' probation。

The maximum potential sentence in this case was set by Congress, which is here for information purposes only, and any sentencing for the defendant will be determined by a judge.。

Williams praised the FBI's excellent investigation and also thanked the SEC, which previously filed a civil lawsuit against Lewis.。