Joe Lewis spared jail time for part in ‘brazen’ insider trading conspiracy

British billionaire who heads family that owns Tottenham Hotspur fined $5m and given three-year probation by New York judge

The British billionaire Joe Lewis was spared jail time for his part in a brazen" insider trading conspiracy on Thursday, and was instead fined $5m and given a three-year probation by a New York judge.

The 87-year-old, who heads the family that owns Tottenham Hotspur, had faced as much as 45 years in prison if convicted at trial. But in a court filing on Monday, prosecutors said Lewis deserved leniency given his age, health issues and the fact that he had voluntarily come to the US to face punishment.