* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Billionaire Joe Lewis’ Habit of Tipping Off Staff and Lover Lands Him in Court

January 24, 2024
in Business
Billionaire Joe Lewis’ Habit of Tipping Off Staff and Lover Lands Him in Court
Share on FacebookShare on Twitter

On the edge of Lago Escondido in Argentina’s northern Patagonia, at the foot of snow-capped mountains, lies British billionaire Joe Lewis’ sprawling property. He frequently uses the luxurious estate to entertain public officials and employees handpicked from the top ranks of Lewis’ investment firm and other companies that the 86-year-old has an interest in.

Author of the article:

Bloomberg News

Bloomberg News

Ava Benny-Morrison and Katherine Burton

Published Jan 24, 2024  •  5 minute read

Joe Lewis horseback riding during an employee trip to his property in Argentina in 2006.Joe Lewis horseback riding during an employee trip to his property in Argentina in 2006. Photo by Obtained by Bloomberg /Source: Bloomberg

(Bloomberg) — On the edge of Lago Escondido in Argentina’s northern Patagonia, at the foot of snow-capped mountains, lies British billionaire Joe Lewis’ sprawling property. He frequently uses the luxurious estate to entertain public officials and employees handpicked from the top ranks of Lewis’ investment firm and other companies that the 86-year-old has an interest in.

Advertisement 2

This advertisement has not loaded yet, but your article continues below.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

REGISTER / SIGN IN TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.

Article content

During one visit in 2006, more than a dozen businessmen went horseback riding and fishing and admired what appeared to be Picasso’s Le Reve and two versions of the Women of Algiers on the walls of Lewis’ villa, photos obtained by Bloomberg show. Trips like these, where Lewis’ generosity and wealth are on display, are partly how the prolific investor has cultivated loyalty and respect among his closest advisers, trusted employees and powerful figures over decades. 

Article content

But more than 15 years after that Argentina jaunt, Lewis’ habit of giving lavish perks to employees and associates has landed him in legal turmoil. He pleaded guilty in federal court in Manhattan Wednesday to charges that he gave his longtime private pilots and a romantic partner non-public inside information for stock trades. 

“While I possessed material non public information about certain publicly traded companies, I agreed to make recommendations” to other people to purchase stock, Lewis told US District Judge Jessica Clarke at a hearing. “I knew at the time what I was doing was wrong, and I’m so embarrassed.” 

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

Article content

Advertisement 3

This advertisement has not loaded yet, but your article continues below.

Article content

The plea deal will likely drastically reduce any sentence for Lewis, who faced as long as 45 years in prison. His lawyer, David Zornow, said that Lewis waived his right to appeal unless he is sentenced to jail time.

Lewis, who was indicted last year, admitted he passed on market-moving information related to companies he invested in. Unlike run of the mill insider trading cases, Lewis didn’t personally reap profits from the trades. Instead, prosecutors allege, he gave information to his pilots as a substitute for a formal retirement plan and to his romantic partners, to “shower” them in gifts. 

Pilots Patrick O’Connor and Bryan Waugh, like Lewis, were indicted on securities fraud last year. While Lewis’ former girlfriend, Carolyn Carter, wasn’t charged, she was sued by the Securities and Exchange Commission. For one of the trades cited in the indictment, Lewis allegedly loaned Waugh and O’Connor $500,000 apiece to buy shares in Mirati Therapeutics Inc. before news of the company’s clinical trial became public in 2019.  

The pilots have previously pleaded not guilty to the charges, but their cases are scheduled for a hearing Thursday.

Advertisement 4

This advertisement has not loaded yet, but your article continues below.

Article content

A spokesman for Lewis characterized the Argentina trip in 2006 as a retreat for “Mr. Lewis’ family and closest colleagues.” A former associate who has been to the estate said it wasn’t always strictly a family affair. Employees often angled for invites to such trips, taking the gesture as a sign of being in the boss’ good books.

Photos from the trip show Lewis triumphantly displaying his catch and leading colleagues on horseback through streams near his property.

‘Ritz Carlton on the Water’

Lewis, who is now worth about $7.6 billion according to the Bloomberg Billionaires Index, dropped out of high school to work at his father’s London catering business. He eventually built that operation into a chain of themed restaurants, then sold it and used the profits to reinvent himself as a currency trader. He relocated to the uber-rich Bahamas hamlet of Lyford Cay to avoid UK taxes. 

According to financial lore, his first big score was betting against the British pound in 1992. That was the same trade that netted George Soros $1 billion, though Lewis’s take was probably much smaller, according to traders. He landed another big win investing in Russian energy giant Gazprom in the early 2000s, according to two people with knowledge of the move.

Advertisement 5

This advertisement has not loaded yet, but your article continues below.

Article content

But much of his success since then has been tied to Tavistock Group, a holding company that has stakes in more than 200 businesses worldwide, including the five-star St. Regis hotel in Atlanta and the Isleworth Golf Club in Florida. Lewis also owns Albany, an exclusive gated community in Nassau in the Bahamas where he was occasionally spotted playing padel tennis with penthouse resident Sam Bankman-Fried before the FTX co-founder’s 2022 arrest. 

Much of his wealth is now in real estate, developing Lake Nona, an exclusive community near Orlando, Florida, and a luxury equestrian community in Palm Beach County with celebrity Justin Timberlake and golfer Tiger Woods.

Lewis, through a family trust and his California-based biotech fund Boxer Capital, holds stakes in three companies that are the subject of insider trading charges, including Australian Agricultural Co. and Mirati Therapeutics.  

Lewis, who also used to own the Premier League football club Tottenham Hotspur, is notoriously private and rarely talks to the press. He prefers to do business on his superyacht, Aviva, where he was often able to stay out of the public eye. Years ago, he’d sail to the Mediterranean for the summer and party with the likes of the late Australian media mogul Kerry Packer but still managed to call traders collect from the ship when it was time to work, two people familiar with his social circle said. 

Advertisement 6

This advertisement has not loaded yet, but your article continues below.

Article content

On the 322-foot boat — which one former colleague described as “Ritz Carlton on the water” — Lewis has been known to invite board members on deck for meetings when it’s moored in New York’s East River or a port in California. The boat has its own padel tennis court below deck. 

In September 2019, Lewis invited a Boxer Capital employee — who was also on Mirati Therapeutics’s board — for a visit on the Aviva in California. During his weeklong stay, the employee shared information about Mirati’s clinical trial results and upcoming corporate announcements, predicting that the share price could reach more than $100, prosecutors said. The employee wasn’t accused of wrongdoing.

Lewis, who was one of the company’s largest shareholders, told Carter — a onetime Miss US Virgin Islands — and the pilots to buy Mirati shares, according to prosecutors.

Argentina 

Since purchasing more than 12,000 hectares in Argentina’s Rio Negro province almost 30 years ago, Lewis has not limited his largess to his own employees. He’s also entertained company executives, judges and government officials while alienating locals who want access to the public lake.

Advertisement 7

This advertisement has not loaded yet, but your article continues below.

Article content

A few years after buying the property, Lewis’s helicopter exploded mid-air over the remote Argentina landscape, killing his pilot. While Lewis wasn’t on the 1999 flight, he would tell people it was an attempt on his life, according to one person privy to such a conversation. 

Lewis is well known for placing a premium on privacy and security. 

Photographs from the 2006 trip showed Le Reve and the Women of Algiers hanging on the wall of an ornately-decorated living room. 

But it was well documented that year that billionaire Steve Wynn accidentally put his elbow through Le Reve while showing it to friends, raising doubts about the authenticity of the piece hanging in Lewis’s Argentina estate. 

—With assistance from James Tarmy and Ben Stupples.

Article content

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/pmn/business-pmn/billionaire-joe-lewis-habit-of-tipping-off-staff-and-lover-lands-him-in-court

Tags: billionairebusinessLewis’
Previous Post

How generative AI is impacting email marketing software

Next Post

Groundwater depletion accelerating in many parts of the world, study finds

Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

Will Generative AI Transform the Future of Entertainment

June 4, 2025
In a first, Minnesota doctors walk their own picket line, then hustle to see patients – Star Tribune

Doctors in Minnesota Take a Stand: Walking the Picket Line Before Caring for Patients

June 4, 2025
Mein Kampf found with gun case at USF and FSU shooter idolized Hitler — there’s time, and a need, for lawmakers to act – Florida Politics

Uncovering Dark Ideologies: The Alarming Connection Between Recent Shootings and Extremist Influences

June 4, 2025
The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

June 4, 2025
FOX Sports Unveils Uefa Nations League Finals 2025™ Coverage With France, Spain, Germany, Portugal Headlining Final Field – Fox Sports Press Pass – FOX Sports

Excitement Builds as FOX Sports Reveals UEFA Nations League Finals 2025 Lineup Featuring France, Spain, Germany, and Portugal!

June 4, 2025
Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

June 4, 2025
Aeternum Update 1.3.27 – newworld.com

Exciting New Features and Enhancements in Aeternum Update 1.3.27!

June 4, 2025
Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

June 4, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (664)
  • Economy (678)
  • Entertainment (21,585)
  • General (15,261)
  • Health (9,721)
  • Lifestyle (681)
  • News (22,149)
  • People (679)
  • Politics (688)
  • Science (15,898)
  • Sports (21,183)
  • Technology (15,665)
  • World (665)

Recent News

Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

Will Generative AI Transform the Future of Entertainment

June 4, 2025
In a first, Minnesota doctors walk their own picket line, then hustle to see patients – Star Tribune

Doctors in Minnesota Take a Stand: Walking the Picket Line Before Caring for Patients

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version