The British billionaire was fined five million US dollars (£3.8 million) after he pleaded guilty last year to insider trading.
Joe Lewis (left) has been pardoned by Us President Donald Trump (Nick Potts/PA)
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Former Tottenham Hotspur owner Joe Lewis has been pardoned by US President Donald Trump, after he was fined millions last year over insider trading.
The British billionaire, who handed ownership of the club to the Lewis Family Trust in 2022, was fined five million US dollars (£3.8 million) after he pleaded guilty in January 2024 to charges alleging he had committed securities fraud and conspired to commit securities fraud by insider trading.
A White House official confirmed the pardon and said Lewis, 88, requested it so that he could receive medical treatment and visit his grandchildren and great-grandchildren in the US, the Associated Press (AP) reported.
Tottenham Hotspur owner Daniel Levy and Joe Lewis in the stands (Mike Egerton/PA)
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He had initially denied the charges of securities fraud and conspiracy with which he was faced.
According to prosecutors, he passed secrets to romantic partners, personal assistants and friends.
The information allowed them to bet on companies in which he had invested, using information only those with access to the business could have known.
The Lewis family took full operational control of Tottenham this year, after former chairman Daniel Levy stepped down.
Lewis will not be returning to the club, which will continue to be run by the next generation of the Lewis family.
Lewis said: “I am pleased all of this is now behind me, and I can enjoy retirement and watch as my family and extended family continue to build our businesses based on the quality and pursuit of excellence that has become our trademark.”
A source close to the family added: “Joe and the Lewis family are extremely grateful for this pardon and would like to thank President Trump for taking this action.
“Over his long business career, Joe has been a visionary, creating businesses across the world which multiple generations of his family are now taking forward.
“This is why there is so much more to the Joe Lewis story than this one event.”
Lewis built his wealth through the investment company Tavistock Group, and bought a controlling stake in Tottenham Hotspur in 2001.
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In 2022 he ceded control of the club and formally handed his stake to a family trust and has no day-to-day involvement with the club.
Spurs is now run by Joe Lewis’s daughter Vivienne, his son Charles, and Vivienne’s husband Nick Beucher, as well as non-executive chairman Peter Charrington and chief executive Vinai Venkatesham.
Mr Levy stepped down as chairman of the club in September after nearly 25 years.
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