UK billionaire and owner of Tottenham Hotspur football club, Joe Lewis, has appeared in a US court to face insider trading charges.

The New York prosecutors charged him with hatching a brazen scheme that enriched his friends as a confidential information he supplied allowed them to profit from buying or selling related stocks.

He pleaded not guilty to the charges in court.

His lawyer David Zornow the charges would be defended in court and that the 86-year-old had come to the US voluntarily to defend himself against the ill-conceived charges.

Tottenham Hotspur football club resides in the Bahamas, but surrendered today to federal authorities in the US.

Sequel to the charges levied against the Tottenham Hotspur owner, a spokesman for the club said the charges facing Mr Lewis had no bearing on the club.