Spurs billionaire Joe Lewis pleads not guilty to securities fraud

Lewis, whose family owns Tottenham Hotspur FC, is accused of brazen' insider trading

Lawyers for the British billionaire Joe Lewis have accused prosecutors of making an egregious" mistake, as the 86-year-old pleaded not guilty to multiple counts of securities fraud and conspiracy.

Lewis, who heads the family that owns Tottenham Hotspur FC, was arraigned on Tuesday in Manhattan federal court with 16 counts of securities fraud and three of conspiracy to commit fraud, which prosecutors called a brazen" insider trading scheme to enrich his friends, lovers and employees, including two private jet pilots.