Dwell
Joe Lewis, billionaire investor and main stakeholder in Queensland-based agriculture big AustAg, has been charged with insider buying and selling within the US.
Mr Lewis, who owns 50 per cent of the Brisbane-based beef producer, and in addition heads the Tavistock Group was alleged to have taken half in a scheme by the US Lawyer in Manhattan Damian Williams.
“At the moment I’m saying my workplace, the Southern District of New York, has indicted Joe Lewis, the British billionaire for orchestrating a brazen insider buying and selling scheme,” Mr Williams mentioned in a video posted to Twitter on Tuesday (native time).
“We allege that for years Joe Lewis abused his entry to company boardrooms and repeatedly supplied inside data to his romantic companions, his private assistants, his non-public pilots and his mates.
“These people then traded on that data and made thousands and thousands of {dollars} within the stockmarket. Because of Lewis these bets have been a positive factor.”
Mr Williams mentioned none of it was vital and Mr Lewis, price an estimated $10 billion and proprietor of the Tottenham Hotspurs soccer membership, was a rich man, however had used the data to compensate workers or to bathe presents on his mates and lovers.
“It’s basic company corruption,” Mr Williams mentioned.
“It’s dishonest and it’s towards the legislation.”
Australian Agriculture has been approached for a remark.
Mr Lewis owns simply over 50 per cent of Australian Agriculture, which in flip owns about 1 per cent of the Australia’s land mass and 6.4 million hectares of Queensland grazing land.
The AACo portfolio consists of foodlots and properties such because the Canobie Station, close to Cloncurry, Carrum Station and the Dalgonally Station, each close to Julia Creek, the Avon and Austral Downs station which spans the Queensland-NT border and the Goonoo farm and feedlot close to Emerald.
Former Socceroos coach Postecoglou was appointed supervisor at London membership Tottenham in June, following a profitable spell in cost at Scottish giants Celtic.
This text first appeared in InQueensland and is republished right here with permission