Donald Trump has officially pardoned British billionaire Joe Lewis, the former owner of Tottenham Hotspur, who was convicted of insider trading in New York last year. The pardon, issued on Thursday, gives Lewis a clean slate after his conviction.
Lewis, 88, had been fined $5 million and sentenced to three years of probation in 2024 after pleading guilty to securities fraud and conspiracy. He was accused of sharing inside information about his portfolio companies with his private pilots, friends, personal assistants, and romantic partners between 2019 and 2021. This information allowed them to profit from trading on the stock market. The companies involved included cancer therapy developer Mirati Therapeutics and BCTG Acquisition. In addition to the fine levied against Lewis, his company, Broad Bay, was fined $44 million. In total, Lewis and Broad Bay were ordered to pay a $50 million penalty.
Following the pardon, a source close to the Lewis family expressed gratitude to President Trump, stating, "Joe and the Lewis family are extremely grateful for this pardon and would like to thank President Trump for taking this action". The source further added, "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".
Lewis himself released a statement saying, "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".
Lewis transferred his majority ownership interest in Tottenham Hotspur to the Lewis Family Trust in 2022, before he was charged. The Lewis family took full operational control of Tottenham this year, after former chairman Daniel Levy stepped down. The club is now run by Joe Lewis's daughter Vivienne, son Charles and Vivienne's husband Nick Beucher, as well as non-executive chairman Peter Charrington and chief executive Vinai Venkatesham. It is not anticipated that Lewis will return to the club.
The pardon allows Lewis to re-enter the United States, where much of his family is based in Florida. It was reported that his age and the theory that he has not personally profited from the charges to which he pled guilty were factors in being issued a pardon.
Lewis is among several wealthy individuals convicted of financial crimes who have received pardons from Trump in his second term, including Binance founder Changpeng Zhao and Nikola founder Trevor Milton.
