The stock price shot up after the clinical trial results and the financial move were announced, and the girlfriend more than doubled her money, netting about $850,000, according to the indictment. But, the indictment said, he told his girlfriend to buy the company’s stock, then told the pilots the same as they flew the couple to Massachusetts from Seoul, where the two had been staying in the swanky Four Seasons Hotel. Lewis’ biotech hedge fund signed a confidentiality agreement that prohibited disclosing the information or trading on it. The information allegedly included a planned financial move and some clinical trial news. The pilots repaid the loans, at Lewis’ request, according to the indictment.Īnother time, according to the filing, Lewis gleaned some closed-door information about a muscular dystrophy drug company in which he was a major investor. After the company announced the clinical trial data, the stock gained nearly 17% in a day, and Lewis’ friends and employees all eventually sold at a profit. Lewis also gave the tip to his girlfriend, his personal assistant, a poker buddy and a friend with whom he had a romance, the indictment said. “Otherwise why would he make us invest,” the pilot added. In later texts telling the friend about the loan, the pilot reasoned that “the Boss has inside info” and “knows the outcome.” “Boss is helping us out and told us to get ASAP,” the pilot texted when advising a friend to buy the stock, too, according to the filing. Prosecutors say Lewis improperly doled out that confidential information between 20 to his chosen recipients and urged them to profit on it.Īt one point, according to the indictment, he even loaned his two private pilots $500,000 apiece to buy stock in a cancer-drug company that he knew had gotten - but not yet publicly disclosed - encouraging results from a clinical trial. The idea of exceeding the height limit - a plan fiercely opposed by the neighborhood - failed to gain commission approval.Īccording to the indictment, Lewis’ investments in various companies gave him control of board seats, where he placed associates who let him know what they learned behind the scenes. “Our vision will make Pier Sixty-Six a destination gateway and icon once again.” “Proposing taller buildings with fewer residential units and less commercial uses will significantly reduce traffic, preserve views and create more open space - all things that we heard were imperative to our neighbors,” a company spokeswoman said at the time. The neighborhood has a height cap of 120 feet. In late 2021, the company said it was exploring the idea of building three luxury condo towers that would rise to 480 feet. Tavistock bought the hotel and marina for $165 million in 2016 and acquired the Sails Marina property on the south side of the 17th Street Causeway the following year. Lewis’ Tavistock investments include the landmark Pier Sixty-Six property in Fort Lauderdale.
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