Billionaire Joe Lewis, whose family trust controls the Tottenham Hotspur soccer club, has been granted a pardon by President Donald Trump in recent news. Lewis pleaded guilty in early 2023 to one conspiracy charge and two counts of securities fraud. He received a fine and a sentence of three years’ probation.
He was fined $5 million following his guilty plea for insider trading and conspiracy charges in New York, according to a White House official who spoke on the condition of anonymity because the pardon has not been formally announced.
Lewis was charged with insider trading after allegedly sharing stock tips with his pilots and his then-girlfriend, Carolyn Carter. A native of London’s East End, Lewis helped his family build a catering business before selling it and moving into high-risk investments.
The tycoon was the founder of the Tavistock Group, which built a global business empire spanning real estate, sports, energy, finance, and life sciences. He ranked 39th on the 2023 Sunday Times Rich List with an estimated net worth of over £5 billion.
In one instance, detailed in court documents, Lewis advised a girlfriend to buy shares in a biotechnology firm before the results of a clinical trial were released and even logged into her bank account himself to execute a $700,000 trade. The investment later produced $849,000 in profit.
US President Donald Trump will pardon former Tottenham Hotspur owner Joe Lewis today
Lewis pleaded guilty to insider trading in the US and was fined $5m in April last year ⬜ pic.twitter.com/hnAgGxtjkM
— Sky Sports News (@SkySportsNews) November 13, 2025
However, as they say, the road to success is not a linear path, and with more money comes greed, an undeniable and pervasive trait in humans. Joe Lewis pled guilty to one count of conspiracy to commit securities fraud, which carries a maximum potential sentence of five years in prison, and two counts of securities fraud, each of which carries a maximum potential sentence of 20 years in jail.
As per The Huff Post, Lewis avoided prison when U.S. District Judge G.L. Clarke cited Lewis’ declining health and his history of philanthropy during the April 2024 sentencing. “I’m here because I made a serious mistake, and I’m ashamed,” Lewis told the court. He vowed to make amends and “rebuild the trust” he had damaged.
The 88-year-old businessman sought clemency so he could access medical care and visit his grandchildren and great-grandchildren in the United States. Family members and close friends were reportedly relieved by the pardon and expressed gratitude to President Donald Trump, according to a source close to the family.
UK billionaire Joe Lewis receives pardon from Trump https://t.co/z32KoeuYfU
— BBC News (UK) (@BBCNews) November 13, 2025
“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. There is so much more to the Joe Lewis story than this one event.” (According to The Guardian).
Lewis had already transferred the majority ownership interest in Tottenham to his family via a trust in 2022. Meanwhile, aside from the $5 million Broad Bay Limited, which was ordered to pay more than $50 million in additional financial penalties. Trump has not issued an official statement about the decision, but major media outlets like the BBC have confirmed it.
Disclaimer: All information stated above has been taken from secondary sources mentioned above. Inquisitr does not take any responsibility for these claims.
