Billionaire Joe Lewis' Habit of Tipping Off Staff and Lover Lands Him in Court [BNN Bloomberg (Canada)]
Mirati Therapeutics, Inc. (MRTX)
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Source: BNN Bloomberg
He frequently uses the luxurious estate to entertain public officials and employees handpicked from the top ranks of Lewis' investment firm and other companies that the 86-year-old has an interest in. During one visit in 2006, more than a dozen businessmen went horseback riding and fishing and admired what appeared to be Picasso's Le Reve and two versions of the Women of Algiers on the walls of Lewis' villa, photos obtained by Bloomberg show. Trips like these, where Lewis' generosity and wealth are on display, are partly how the prolific investor has cultivated loyalty and respect among his closest advisers, trusted employees and powerful figures over decades. But more than 15 years after that Argentina jaunt, Lewis' habit of giving lavish perks to employees and associates has landed him in legal turmoil. He pleaded guilty in federal court in Manhattan Wednesday to charges that he gave his longtime private pilots and a romantic partner non-public inside information for stock trade
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