US SEC charges British billionaire Joe Lewis with insider trading

Solid Biosciences

26/07/2023 14:03

NEW YORK, July 26 (Reuters) - The U.S. Securities and
Exchange Commission on Wednesday filed a civil insider trading
case against British billionaire Joe Lewis and three other
defendants.
    In a complaint filed in Manhattan federal court, the SEC
said Lewis illegally tipped material nonpublic information to
his then girlfriend Carolyn Carter and to his longtime private
pilots Patrick O'Connor and Bryan Waugh, who then reaped more
than $545,000 of illegal profit by trading on the tips.
    Lewis also faces criminal insider trading charges that were
announced on Tuesday. His lawyer called those charges
"ill-conceived" and said Lewis would be defended vigorously in
court.

 (Reporting by Jonathan Stempel in New York; Editing by Chizu
Nomiyama)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))