Topics: Joe Lewis, Tottenham, English Premier League
The British billionaire, who is the major owner of Spurs, has been indicted in the USA after allegedly "orchestrating a brazen insider trading scheme".

Premier League heavyweights Tottenham have responded to requests for a statement following Tuesday's shocking news involving majority owner Joe Lewis.

In an unexpected development, the Spurs owner, who is an unpopular figure among the fan base due to the club's lack of success on the pitch, was indicted in the USA over alleged insider trading.

The British billionaire is accused of passing on inside information as gifts and compensation for his employees, friends, and lovers. The charges were officially announced in a video on Twitter by U.S. Attorney Damian Williams.

"My office, the Southern District of New York has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme.

"We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots, and his friends.  

"Those folks then traded on that inside information and made millions of dollars on the stock market because - thanks to Lewis - those bets were a sure thing."

"Now, none of this was necessary. Joe Lewis is a wealthy man. But as we allege he used inside information as a way to compensate his employees or shower gifts on his friends and lovers. It is classic corporate corruption. 

"It's cheating and it's against the law. That's why Joe Lewis has been indicted and will face justice here in the Southern District of New York."

The indictment includes 19 charges of securities fraud and conspiracy which could spell a 25-year prison sentence if found guilty. Lewis, who is also accused of loaning money to those he allegedly tipped off, denies any wrongdoing.

"The government has made an egregious error in judgment in charging Mr. Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment," the Tottenham owner's lawyer said, as per the Daily Mail.

"Mr. Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court."

Spurs, meanwhile, have issued a statement regarding this latest development. However, unsurprisingly, this statement was simply a "no comment" response as the North London giants opted to respect the legal proceedings.

"This is a legal matter unconnected with the club and as such we have no comment," the club said.

Fans worried for their team this upcoming season should rest assured as this should not affect Tottenham's day-to-day activities. However, Joe Lewis' future as owner of Spurs will be shrouded in doubt due to this indictment.