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Trump's gag order reinstated by court in NY civil fraud case
Trump's gag order reinstated by court in NY civil fraud case
By Jack Queen NEW YORK (Reuters) -A New York appellate court on Thursday reinstated a gag order that barred former
2023-12-01 00:27
Billionaire whose family trust owns Spurs denies insider trading – reports
Billionaire whose family trust owns Spurs denies insider trading – reports
British billionaire Joe Lewis – whose family trust owns Tottenham – has been bailed by a judge in New York after pleading not guilty to charges of giving insider trading tips, according to reports. The 86-year-old, who faces 16 counts of securities fraud and three counts of conspiracy, appeared at an arraignment hearing at Manhattan Federal Court on Wednesday. After entering a not guilty plea Lewis was released on a bail of 300 million US dollars (£230m), reportedly secured by a yacht and private aircraft equivalent to that amount. Lewis, and two of his pilots who are also facing charges, must remain in the United States. Prosecutors say Lewis, who was arrested on Wednesday morning, is alleged to have used his access to confidential information to provide stock tips to individuals close to him, with the indictment referring to one girlfriend having made 849,000 US dollars (£657,000) on one of those tip-offs. Lewis’ legal counsel David Zornow, from the Skadden, Arps, Slate, Meagher & Flom firm, said: “The government has made an egregious error in judgment in charging Mr Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment. “Mr Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.” Each of the first 13 counts of securities fraud carries a maximum sentence of 20 years in prison, Manhattan prosecutors said in a statement issued on Wednesday. The US Attorney for the Southern District of New York, Damian Williams, announced on Tuesday that Lewis had been indicted over a “brazen insider trading scheme”. Prosecutors said Lewis, by virtue of his investments in certain companies, received material and non-public information about these companies. A release from prosecutors on Wednesday alleged Lewis had “misused and misappropriated this confidential information to provide stock tips to various individuals in his life, including his employees, romantic partners, and friends, as a way to provide them with compensation and gifts”. It added: “These individuals, in turn, traded on the tips provided by Lewis for vast personal gain.” Lewis bought a controlling stake in Spurs in 2001 for £22million. He officially ceded control of the club last year, with Bahamian lawyer Bryan A Glinton replacing him as a director according to Companies House. His stake in the club – which he held through the ENIC Group alongside Daniel Levy – was formally handed to a family trust last year. Family members of Lewis remain beneficiaries of the trust. PA understands the Premier League does not consider Lewis as a person with control at Tottenham, and is therefore not subject to its owners’ and directors’ test. A Tottenham spokesperson said: “This is a legal matter unconnected with the club and as such we have no comment.” US prosecutors said Lewis is also alleged to have falsely disclosed the extent of his ownership shares in a pharmaceutical company, Mirati, “through an elaborate array of shell companies and other entities, including an offshore trust purportedly for the benefit of his granddaughter”. As a result of this alleged false disclosure, prosecutors said he was able to exercise warrants in Mirati that he would otherwise not have been able to exercise, “at vast financial gain”. Also charged were Patrick O’Connor and Bryan Waugh, two pilots employed by Lewis to fly his private aircraft. In one instance, it is alleged Lewis loaned each of them 500,000 US dollars (more than £387,000) to buy shares in a company before it publicly announced favourable information about some clinical results. This type of behaviour - blatant disregard for the law - is not only illegal but undermines the integrity of our financial markets. Christie M Curtis, FBI Federal Bureau of Investigation (FBI) acting assistant director in charge Christie M Curtis said: “As alleged, Mr Lewis treated material, non-public information at his disposal as though it was something he could give his friends and associates for their benefit. “This type of behaviour – blatant disregard for the law – is not only illegal but undermines the integrity of our financial markets. “The FBI is determined to ensure that anyone willing to perpetrate insider trading schemes is held accountable in the United States criminal justice system.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Kylian Mbappe reportedly turns down chance to discuss move to Al Hilal Sussex head coach Paul Farbrace says Jofra Archer is ‘on course’ for World Cup Tom Latham and Will Jacks both make 99 as Surrey build lead over Somerset
2023-07-27 04:42
Ryan Phillippe is 'thankful for the freedom that comes with breaking addictions' as he celebrates sobriety milestone
Ryan Phillippe is 'thankful for the freedom that comes with breaking addictions' as he celebrates sobriety milestone
Ryan Phillippe is on a sobriety journey, and is celebrating a major milestone.
2023-09-15 07:50
Pokémon GO Passes $6 Billion Revenue Mark
Pokémon GO Passes $6 Billion Revenue Mark
Pokémon GO hits a revenue milestone, shows continued staying power
1970-01-01 08:00
Danelo Cavalcante search expands more than 20 miles from prison after he stole dairy farm van
Danelo Cavalcante search expands more than 20 miles from prison after he stole dairy farm van
Pennsylvania authorities have been forced to expand the search perimeter in their manhunt for escaped convict Danelo Cavalcante after he stole a transit van and drove to the homes of former associates. Cavalcante, 34, remains on the run more than 10 days after he escaped from Chester County Prison on 31 August. Pennsylvania State Police are facing growing scrutiny after it was confirmed on Sunday that Cavalcante had managed, yet again, to sneak past the search perimeter. Lt Col George Bivens said that the fugitive stole a van from a dairy farm near Longwood Gardens botanical park, where the search was initially focused and a 10-mile perimeter had been established. Cavalcante used the van to travel to Phoenixville, a town roughly 20 miles away from Chester County Prison and 25 miles away from the botanical garden. In Phoenixville, Cavalcante visited the home of two former associates. Around 9.50pm on Saturday, he knocked on the door of a former coworker who was not home and later alerted authorities when he reviewed his doorbell camera footage. Fifteen minutes later, Cavalcante showed up at the home of another individual and law enforcement was eventually notified of the incident. The stolen van was then discovered by law enforcement in a field behind a barn in East Nantmeal Township on Sunday morning. Lt Col Bivens said he believed Cavalcante abandoned the vehicle at least in part because it was low on fuel. Authorities are concerned that he would attempt to obtain another vehicle or has already done so. Doorbell video images showed Cavalcante to be now clean-shaven and wearing a green hooded sweatshirt, black baseball cap, green prison pants and white shoes. The manhunt has been repeatedly expanded as Cavalcante has managed to elude hundreds of law enforcement officers for more than a week. Mr Bivens said that some underground tunnels and “very large drainage ditches” made it very difficult to completely secure the search area. “No perimeter is 100 per cent secure. We do the best we can. Most times we’re able to secure it adequately,” Mr Bivens said on Sunday. “You couple that with weather, aviation being down during the night ... No excuses, we took over the responsibility and we [are giving it] an exceptionally good effort.” Mr Bivens asked Chester County residents to be vigilant and make sure they do not leave their keys inside their vehicles as Cavalcante will “undoubtedly take any opportunity to aid himself”. State police also confirmed on Sunday that Cavalcante’s sister Eleni Cavalcante was arrested by ICE over “some immigration issues”. Mr Bivens refused to comment on whether she is believed to have aided Cavalcante. Police had been planning to use close to 600 personnel Monday for “one massive sweep” of the search area, Mr Bivens said. “He’s very determined, we are even more determined. He will be held to justice and we are going to bring him back into custody,” Mr Bivens added. Cavalcante escaped while awaiting transfer to state prison. Last month, he was convicted for the April 2021 murder of his former girlfriend Deborah Brandao and sentenced to life in prison. US Marshalls, the FBI, and SWAT teams have joined the full-scale search for Cavalcante. Police had been planning to use close to 600 personnel Monday for “one massive sweep” of the search area, Mr Bivens said. Local and federal police and the state’s Crime Stoppers have offered a combined $20,000 reward for information that leads to Cavalcante’s capture. Authorities have warned the public that Cavalcante is believed to be “extremely dangerous” and have asked anyone who comes in contact with him to immediately call 911. Cavalcante climbed up a wall by crab-walking up from the recreation yard, climbing over razor wire and then running across a roof before jumping to the ground — the same method an inmate used in May before he was captured within minutes. Cavalcante’s escape went undetected for more than an hour until guards took a headcount. The jailbreak is being investigated by the state’s attorney’s office and a prison tower guard who failed to report it has already been fired. Anyone with information about Cavalcante’s current whereabouts is asked to call 911 or the US Marshals’ Tipline at 877-WANTED-2. Read More Danelo Cavalcante - live updates: New sightings in prison escape search as stolen van found and sister arrest Danelo Cavalcante’s sister arrested by ICE as police reveal his attempts to contact coworkers Police say Danelo Cavalcante has changed his appearance as escaped killer is spotted again
2023-09-12 00:36
'Anna and the Apocalypse': The perfect movie to kick off Christmas season
'Anna and the Apocalypse': The perfect movie to kick off Christmas season
Do you like Christmas movies, but wish they were gorier? Are you a fan of
2023-11-02 17:00
China's new bonds to help economic recovery, official says, as budget deficit rises
China's new bonds to help economic recovery, official says, as budget deficit rises
BEIJING China's new sovereign bonds will help bolster the economic recovery, China's vice finance minister Zhu Zhongming said
2023-10-25 13:31
Martha Stewart’s Surprising Twist on Baked Potatoes Is As Simple As It Is Delicious
Martha Stewart’s Surprising Twist on Baked Potatoes Is As Simple As It Is Delicious
One small swap will take your baked potato game to the next level.
2023-08-26 01:00
How did Heather Rae and Tarek El Moussa meet? 'Selling Sunset' star admits to having 'great' sex as she shares private texts
How did Heather Rae and Tarek El Moussa meet? 'Selling Sunset' star admits to having 'great' sex as she shares private texts
'The Flipping El Moussas' couple Heather Rae and Tarek El Moussa met each other for the first time on the 4th of July
2023-07-05 09:45
Dixie D'Amelio discusses Charli D'Amelio and Landon Barker's 'dating draft' for her
Dixie D'Amelio discusses Charli D'Amelio and Landon Barker's 'dating draft' for her
The sisters share that this season promises a rollercoaster ride through their careers, family dynamics, and dating lives
2023-09-20 19:58
League of Legends Patch 12.12 Preview
League of Legends Patch 12.12 Preview
League of Legends Patch 12.12 preview notes.
1970-01-01 08:00
Mariners lefty Gonzales getting tests on forearm, will miss start in Texas
Mariners lefty Gonzales getting tests on forearm, will miss start in Texas
Mariners starter Marco Gonzales remained in Seattle for tests on his left forearm and will not make his scheduled start Saturday in Texas
2023-06-03 06:27