Donald Trump pardons UK billionaire and former Tottenham owner Joe Lewis | Donald Trump
British billionaire and former Tottenham Hotspur FC owner Joe Lewis has been pardoned by Donald Trump for his 2024 conviction for his role in a “brazen” insider trading scheme.
Lewis, 88, was fined $5 million (£3.8 million) and sentenced to three years’ probation by a New York judge last year, but avoided prison time after pleading guilty to taking part in a scheme that prosecutors said was designed to enrich his friends, lovers and employees.
Lawyers for the East London-born investor initially accused prosecutors of making a “terrible” mistake by charging him with multiple securities fraud and conspiracy charges.
But Lewis, who also owns the largest share in Mitchells & Butlers, one of Britain’s largest pub, bar and restaurant operators, later changed his plea to guilty after prosecutors agreed to a sentence that did not include prison time.
Lewis reserved the right to change his plea again if a prison sentence was imposed.
In his statement to the court at his sentencing last year, he said: “I made a terrible mistake. I broke the law. I am ashamed, I apologize and I hold myself responsible.”
Judge Jessica Clarke said Lewis’ conditions did not warrant incarceration and imposed a $44 million fine on his company, Broad Bay, along with a $5 million civil penalty and probation.
But on Thursday, the Daily Telegraph was the first to report that Trump plans to fully pardon Lewis. The Guardian understands the fine will not be paid back to Lewis or his company.
The White House later confirmed the pardon, saying Lewis requested it so he could receive medical treatment and visit his grandchildren and great-grandchildren in the United States, the Associated Press reported.
Lewis said: “I am pleased that all of this is now behind me and I can enjoy retirement and watch my family and extended family continue to build our businesses based on the pursuit of quality and excellence that has become our trademark.”
A source close to the family said: “Joe and the Lewis family are extremely grateful for this pardon and want to thank President Trump for taking this action.
“Throughout his long business career, Joe was a visionary who built businesses around the world and that multiple generations of his family carried forward. There is much more to the story of Joe Lewis than this one event.”
Lewis transferred his majority stake in Tottenham to his family through a trust in 2022, a year before he was charged.
The north London football club is now overseen by Lewis’ daughter Vivienne, son Charles and Vivienne’s son-in-law Nick Beucher.
Details of the insider trading scheme were documented in a document. 29 page file Published in 2023 by the U.S. attorney for the southern district of New York.
Prosecutors accused Lewis of passing stock tips based on inside information to his employees, including the private jet pilot and his then-girlfriend Carolyn Carter, 33, to allow them to profit from stock trading.
