Joe Lewis, the 88-year-old billionaire businessman and owner of Tottenham Hotspur football club, has been granted a pardon by U.S. President Donald Trump. Lewis, who is also the head of the Tavistock Group, pleaded guilty to insider trading in 2024. This agreement allowed him to avoid jail time while facing a $5 million fine.
Lewis was accused of sharing insider information about his companies with personal contacts, including pilots, assistants, friends, and even romantic partners, resulting in millions of dollars in illegal profits. The information was allegedly used for personal trading on the stock market.
A White House official confirmed that President Trump approved the pardon at Lewis’ request, so he could receive medical treatment and visit his grandchildren and great-grandchildren in the U.S. Lewis had not contested extradition in the case and admitted his mistake, stating that he was ready to move on from the incident.
“I am pleased all of this is now behind me, and I can enjoy retirement and watch my family continue to build our businesses based on quality and excellence,” Lewis said in a statement.
A source close to the family expressed gratitude for the pardon, thanking Trump for his support.
The Insider Trading Case
Lewis, who founded the Tavistock Group and holds a range of investments in property, finance, and life sciences, was arrested in July 2023. He faced 16 counts of securities fraud and three counts of conspiracy, with prosecutors alleging that between 2013 and 2021, he abused his corporate access to profit from insider information.
In one instance, Lewis allegedly tipped off a girlfriend about a biotech company’s clinical trial results in 2019. He is accused of accessing her bank account to invest $700,000 in the company, which eventually netted him a profit of $849,000.
In 2024, Lewis pleaded guilty to conspiracy and securities fraud charges as part of a plea agreement. He was sentenced to three years of probation and fined $5 million.
Tottenham Hotspur Ownership
Best known for his ownership of Tottenham Hotspur, Lewis bought a controlling stake in the club in 2001 for £22 million ($32 million). In 2022, control of the club was transferred to a family trust, and financial records show that Lewis no longer holds significant control over the team. As of 2023, Lewis’ estimated wealth was over £5 billion ($6.4 billion), according to the Sunday Times Rich List.
