It comes after claims Lewis ran an insider trading scheme in the US, with a 29-page document accusing the billionaire of tipping off friends, lovers and friends.
The tip off’s with private stock information reportedly helped the informed make millions.
Lewis’s lawyer has said that the charges against the 86-year-old businessman are an “egregious error in judgment”.
Who is Joe Lewis?
Born in the East End of London in 1937 to a Jewish family, Lewis lived above a pub in Bow’s Roman Road and left school at 15 to help run his father’s business, Tavistock Banqueting.
He began working as a waiter and help oversee the firm’s expansion, seeing an opening for a tourist attraction for Americans with medieval banqueting in the West End.
Lewis also gave Robert Earl, the founder of Hard Rock and Planet Hollywood, his first job too.
In the 1980s and 1990s, Lewis was well-known for successfully working the currency market, earning the nickname ‘The Boxer’.
He also made money from the financial crisis, including Black Wednesday which he predicted.
Lewis owns the Tavistock Group, which was first set up in 1975 and has since become one of the most powerful private equity organisations in the world.
To avoid UK tax laws, Lewis set up the business in the Bahamas and owns a Bahamian mansion, a ranch in Argentina and multiple homes in Flordia and across the world.
In 2001, Lewis brought out Sir Alan Sugar’s controlling stake in Tottenham Hotspur for £22 million.
Now his family, alongside businessman Daniel Levy have become the longest-serving chairmen in the Premier League.
In 2023, the Sunday Times Rich List placed Lewis at 39th, with a net worth of £5 billion.
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