Since July of last year, the 86-year-old British tycoon has been facing the United States justice system, which investigated and detained him, accusing him of providing confidential information about listed companies to several of his relatives and employees in order to obtain enormous profits. benefits from buying and selling shares.

Accused of insider trading, Joe Lewis initially pleaded “not guilty” (“not guilty” instead of “innocent”) and managed to remain free by paying bail of $300 million . The British had to pay shows the volume of the fraud he committed.

Lewis , 86, was accused of providing inside information for years to his employees, including his private drivers, and his lovers, in a "brazen" scheme between 2013 and 2021 that earned him millions of dollars.

The trial continued and finally, this week Joe Lewis pleaded guilty to insider trading in a United States federal court , according to prosecutors.

In a dramatic turn of events, British billionaire Joe Lewis , known for being the disputed owner of Lago Escondido in Argentina and former owner of English Premier League soccer club Tottenham Hotspur , pleaded guilty to insider trading in a United States federal court.

Six months ago, the New York justice system indicted Lewis, who initially pleaded not guilty . His lawyer called the accusations an "egregious error." However, now the situation changed when Lewis He pleaded guilty to conspiracy to commit securities fraud, along with two additional counts of securities fraud. These crimes carry maximum sentences of between five and twenty years in prison , respectively.

One of Lewis' companies was ordered to pay a fine of $50 million , according to statements before a US judge. Lewis' sentencing date is yet to be determined.

During the hearing, Lewis admitted his guilt before Judge Jessica Clarke . "While possessing material non-public information about certain publicly traded companies, I agreed to make recommendations to three other parties to purchase those shares," Lewis said." I knew at that moment that what I was doing was wrong and I am very ashamed," he said.

Prosecutors detailed how Lewis provided confidential information about upcoming favorable test results to biochemical companies. "On multiple occasions over the course of several years, Lewis used and misappropriated this confidential information to provide stock advice to various people in his life, including his employees, romantic partners, and friends," said US Attorney Damian Williams. of the Southern District of New York.

In one of the most striking instances, In 2019, Lewis lent $500,000 each to his two drivers to invest in Mirati Therapeutics stock ahead of the release of clinical results. These drivers then used these tips to make substantial profits.

Repercussions in Argentina

Following the British billionaire's guilty plea, union leaders announced demonstrations to protest the businessman's activities in the country.

Rodolfo Aguiar, general secretary of the Association of State Workers (ATE), confirmed that this year he will go to Lago Escondido again in response to Lewis' recent guilty plea. Aguiar expressed on to plead guilty in the US Justice for the same acts that he has committed here with impunity for decades. And here? When are we going to see him testifying for the secret meeting that judges, officials and businessmen held in his mansion?

Aguiar accused Lewis of symbolizing "arrogance, corruption and impunity" in Patagonia and criticized the inaction of the Argentine authorities in the face of alleged violations of the Land Law by Lewis. It should be remembered that one of the many points contained The unconstitutional DNU (Decree of Necessity and Urgency) of President Javier Milei simply contemplates the repeal of the Land Law. It seems that there is a "need" and "urgency" to eliminate a law that limits the purchase of natural lands by foreigners, in order to protect national sovereignty.

Lewis' legal situation in the United States contrasts with his position in Argentina, where he owns 12,000 hectares and has fenced off Lake Escondido, according to publicly known complaints. Aguiar compared Lewis' situation with that of other Argentine businessmen and former officials, highlighting the need of greater responsibility and justice in the country.

THE “LAGO ESCONDIDO” CASE

Lago Escondido is a case of alleged corruption, malfeasance and legal warfare denounced by journalists Raúl Kollmann and Irina Hauser, whose implicated parties would be judges, political operators, former agents of the Federal Intelligence Agency (AFI), the newspaper Clarín and the British businessman Joe Lewis, among other people.

The journalists reported that, in October 2022, judges, political operators and former AFI agents traveled on a private plane paid for by the newspaper Clarín to Lago Escondido, where the mansion of British millionaire Joe Lewis is located.

The authors of the journalistic investigation stated that the objective was to conspire and "fix", in a secret meeting, causes to favor former President Macri and others while conspiring against Cristina Fernández de Kirchner, among other criminal matters.

The meeting would have been financed by the newspaper Clarín, a Grupo Clarín company, which deliberately tried to hide the meeting to cover up the various crimes committed in which the newspaper would be a necessary participant.

At the meeting would have been Judge Julián Ercolini, Judge Carlos Mahiques, the head of the prosecutors of the City of Buenos Aires, Juan Bautista Mahiques (son of Carlos), the Minister of Justice and Security of the government of the city of Buenos Aires. , Marcelo D'Alessandro, Judge Pablo Cayssials, Judge Pablo Yadarola, the businessman specializing in digital campaigns Tomás Reinke and the former Head of Legal of the Intelligence Secretariat (SI), Leo Bergroth.

Upon hearing the news, which was published by the newspaper Página/12, they stated that several media outlets led by Clarín and others related to its editorial line and those involved in the crimes had engaged in long text and voice chats to arrange a way to cover up the crime. case and that it would not happen to adults.

"The chats were illegally intercepted"

The judges and prosecutors who had committed malfeasance allegedly participated in the chats, as well as senior managers of the Clarín group, where they would have presented their coordinated ideas on how to cover up the scandal.

Although D'Alessandro denied the veracity of the chats, the newspaper Clarín did not do so and preferred to focus on the way in which they were obtained, evidently legally advised, since the way of obtaining them was going to weaken the complaint before Justice, as It finally happened.

According to journalists, the judges, prosecutors and officials sought to cover up the trip with apocryphal invoices, while proposing the execution of other crimes such as "pressures" (coercion) against people who could incriminate them based on their evidentiary statements.

The scandal also caused repudiation from Grupo Clarín workers.

The national government denounced the judges and the CEO of Clarín. President Alberto Fernández made a national broadcast condemning the events. Some judges from the Association of Magistrates asked that the officials of the lawfare chats be investigated.

Deputy Margarita Stolbizer requested the resignation of the Minister of Justice of the City of Buenos Aires Marcelo D'Alessandro, explaining that he is in a "privileged" position and could hinder the course of the case.However, the questioned official received the support of the then head of the Buenos Aires government Horacio Rodriguez Larreta, the president of the PRO, Patricia Bullrich, Elisa Carrió, Cristian Ritondo and Diego Santilli.