UK billionaire pleads guilty to insider trading in New York

UK billionaire Joe Lewis, whose family trust owns Tottenham Hotspur football club, has pleaded guilty to insider trading in a US court.

Lewis, 86, was accused of passing info about companies he invested in to his private pilots, friends, personal assistants and girlfriends.

US authorities say that the fraud netted millions of dollars in profit.

Lewis pleaded guilty to one count of conspiracy and two counts of securities fraud and will be sentenced in March.

This is a developing story. Check back for updates.