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It's not just alleged he gave tips, there are some other allegations that perhaps could be interpreted as being more systematic. This from CBS News...
"According to the indictment, Lewis' investments in various companies gave him control of board seats, where he placed associates who let him know what they learned behind the scenes. Prosecutors say Lewis improperly doled out that confidential information between 2019 and 2021 to his chosen recipients and urged them to profit on it."
"At one point, according to the indictment, he even loaned his two private pilots $500,000 apiece to buy stock in a cancer-drug company that he knew had gotten — but not yet publicly disclosed — encouraging results from a clinical trial."
"According to the indictment, Lewis' investments in various companies gave him control of board seats, where he placed associates who let him know what they learned behind the scenes. Prosecutors say Lewis improperly doled out that confidential information between 2019 and 2021 to his chosen recipients and urged them to profit on it."
"At one point, according to the indictment, he even loaned his two private pilots $500,000 apiece to buy stock in a cancer-drug company that he knew had gotten — but not yet publicly disclosed — encouraging results from a clinical trial."
Tottenham owner Joe Lewis charged by feds with insider trading
The billionaire is accused of giving confidential stock tips to friends, employees and private pilots.
www.cbsnews.com