Billionaire art collector Joe Lewis indicted in New York for insider trading and financial fraud:
for $39 million. Photo: Jewish Business News
Damian Williams, the U.S. Attorney for the Southern District of New York, and Christie Curtis, acting director in charge of the FBI’s New York field office, announced the unsealing of an indictment against Lewis and two co-conspirators. All were arrested this morning and were scheduled to appear in court later today.
Lewis, already a wealthy man, “used inside information as a way to compensate his employees or to shower gifts on his friends and lovers,” Williams said in the statement.” That’s classic corporate corruption. It’s cheating. And it’s against the law—laws that apply to everyone, no matter who you are.” According toLewis, who is 86 and a British national, was hit with 16 counts of securities fraud and three counts of conspiracy.
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