Insider trading has been one of the most serious issues in the world of trade. Tiger Woods’ remote business partner with whom he collaborated for one of the most astonishing golf courses in the Bahamas has recently suffered a major setback.

Although the veteran golfer has been mostly absent from the course this year, it seems that the difficulties in his life are not coming to an end. The unfortunate turn of events has left the business tycoon in the dark, and he is getting threatened with other illegal actions as well.

Tiger Woods’ Albany golf course partner suffers a huge misfortune 

British billionaire Joe Lewis has been charged by US authorities with crafting a brazen insider trading scheme and passing on forbidden information to his romantic partners, friends, pilots, and private assistants. It was revealed by the American authorities that sharing private information with these people was used as a means to shower love and presents by the 86-year-old billionaire. 

Other than this accusation, the owner of Albany golf course is also accused of a dozen more things such as securities fraud, allegedly loaning money to those he is accused of tipping off. His legal team, Skadden, Arps, Slate, Meagher & Flom, have claimed that they will fight vigorously against the charges that have been brought up against the businessman.

According to GolfWeek, while his legal team is defending him strongly, the US authorities are claiming this was a classic case of corporate corruption. The authorities claimed that the law should be equal for everyone, no matter who they are. Lewis also teamed up with golfing legend Woods to create the ultra-exclusive Albany golf and leisure resort in the Bahamas, with Ernie Els and Justin Timberlake among its co-owners.

The 15-time major champion hosts his annual tournament, Hero World Challenge, at the aforementioned course. It is to be noted that the golfer has been absent this year from many tournaments, including three majors (and one he couldn’t finish due to injury) owing to his recovery and his health. Other than the course in the Bahamas, Lewis’ portfolio is quite elaborate. 

Setback for Woods as Joe Lewis’s extravagant business portfolio gets its first blemish

Lewis founded a private investment organization, Tavistock Group, in 1975. The 86-year-old is estimated to be worth £6.2 billion. In his investment group, he later on added English Premier League giant Tottenham Hotspur and golf courses such as Isleworth in Windermere, Florida, Lake Nona in Orlando, and Albany in the Bahamas.

One setback after another, starting from his accident a couple of years ago to his injury earlier this year to the merger between PGA Tour and LIV Golf in June, seems to be coming Woods’ way. His fans hope things will change for the better in the upcoming season. Once he returns to the field and starts winning, everything else will take care of itself.

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What are your thoughts about the staggering charges against the business tycoon? Do you think it will show Woods in a bad light too? Do you think this is somehow going to affect the next “Hero World Challenge” edition? Let us know in the comments below.