Joe Lewis, the UK billionaire businessman whose family trust owns Tottenham Hotspur football club, has been granted a pardon by U.S. President Donald Trump. Lewis, 88, had pleaded guilty to insider trading in 2024 as part of a plea agreement, avoiding prison time in exchange for his cooperation.
Lewis was accused of providing insider information about his business dealings to his private pilots, personal assistants, friends, and romantic partners. This insider information allegedly enabled them to make millions of dollars in profit through the stock market.
A White House official confirmed that President Trump approved the pardon at Lewis’ request, allowing him to seek medical treatment and visit his grandchildren and great-grandchildren in the United States.
“Mr. Lewis admitted to making a terrible mistake, did not fight extradition, and paid a $5 million fine,” the official told the BBC.
In a statement following the pardon, Lewis expressed relief, saying, “I am pleased all of this is now behind me, and I can enjoy retirement while watching my family and extended family continue to build businesses based on quality and excellence.”
A source close to the Lewis family confirmed the pardon to the BBC, expressing their “extreme gratitude” to President Trump for the decision.
Background on the Case
Lewis, who founded Tavistock Group, a global investment firm with interests in property, sports, energy, and life sciences, had been ranked 39th in the 2023 Sunday Times Rich List, with an estimated worth of over £5bn ($6.4bn).
In 2023, he was arrested and charged with 16 counts of securities fraud and three counts of conspiracy, related to actions between 2013 and 2021. Prosecutors argued that Lewis exploited his access to corporate boardrooms, passing on sensitive information to associates who then profited on the stock market.
One such incident occurred in July 2019, when Lewis allegedly told a girlfriend to invest in a biotech company before the results of a clinical trial were made public. He reportedly accessed her bank account and used $700,000 to buy shares, ultimately making a profit of $849,000.
In 2024, Lewis entered a plea deal, admitting to conspiracy and two counts of securities fraud. As part of the deal, he was fined $5 million and sentenced to three years of probation.
Lewis’ Ownership of Tottenham Hotspur
Joe Lewis is also known for his ownership of Tottenham Hotspur, a major football club in the UK. He acquired a controlling stake in the club for £22 million ($32 million) in 2001. In 2022, control of the club was transferred to a family trust, and financial filings show that Lewis no longer has “significant control” over the team.
