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.
This should only count if he didn’t know the outcome before coming. If he’d been in talks with the prosecutor and no jail was already decided, this isn’t some brave surrender.
Honestly at this point, I think no jail term is implied.