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.
News: AAC US SEC charges British billionaire Joe Lewis with insider trading
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$1.43 |
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Mkt cap ! $861.9M | |||
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