British billionaire Joe Lewis, the 86-year-old majority controller of Tottenham Hotspur through his family trust, has admitted guilt to multiple criminal charges in the US related to insider trading allegations brought against him last year.

In a New York court on Wednesday, Lewis pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud. 

He was accused in July 2023 of sharing confidential information about his portfolio companies with two private pilots, as well as with friends, personal assistants, and romantic partners. 

Prosecutors allege that this disclosure enabled them to make substantial profits amounting to millions of dollars.

Expressing remorse, Lewis stated in court, “I am so embarrassed and I apologize to the court for my conduct.” 

The prominent businessman, who founded the investment firm Tavistock Group, boasts an estimated net worth of around $6.2 billion, according to Forbes.

While Lewis is set to plead not guilty to the remaining charges, which include 14 counts of securities fraud and two counts of conspiracy, spanning the period from 2013 to 2021, the pilots implicated in the case, Patrick O’Connor and Bryan Waugh, entered not guilty pleas in July.

Despite the charges, Lewis has avoided imprisonment thus far, securing his freedom with a $300 million bond backed by his yacht and private plane. 

However, the terms of his bail impose restrictions, preventing him from leaving the US, boarding his yacht, or using his personal aircraft except for attending court hearings.