British billionaire Joe Lewis, the former owner of Tottenham Hotspur FC, is set to be pardoned by former US President Donald Trump following his 2024 conviction for insider trading. Lewis, 88, was fined $5 million and handed three years’ probation by a New York court after admitting to participating in what prosecutors described as a “brazen” scheme to pass confidential share tips to friends, partners and employees.
Lewis, whose wealth spans global investments in hospitality, finance and real estate, originally faced multiple counts of securities fraud and conspiracy. His legal team accused prosecutors of an “egregious” overreach when the charges were first filed.
The east London-born investor later changed his plea to guilty after reaching an agreement that guaranteed a non-custodial sentence. At the time, Lewis told the court he had made “a terrible mistake,” saying he broke the law and was “ashamed” of his conduct. Judge Jessica Clarke ruled that his age, health and personal circumstances did not warrant imprisonment. Alongside his personal fine, Lewis’s company Broad Bay was ordered to pay an additional $44 million.
Trump’s Pardon and Reaction From the Lewis Family
According to reports first published by the Daily Telegraph and later confirmed by multiple sources, Trump intends to issue a full presidential pardon for the billionaire. The Guardian confirmed that the fines imposed in the case will not be refunded to Lewis or his company.
In a statement, Lewis said he was relieved to “put all of this behind me” and looked forward to retirement while watching his family continue to grow their global business interests.
A source close to the family said they were “extremely grateful” for the pardon, adding that Lewis had been “a visionary” who built international businesses now being carried forward by multiple generations.
Tottenham Ownership Structure Already Shifted Before Charges
Lewis transferred his majority stake in Tottenham Hotspur into a family trust in 2022, a year before he was indicted in the United States. The north London club is currently overseen by Lewis’s daughter, Vivienne, his son Charles, and Vivienne’s husband, Nick Beucher.
The billionaire had long stepped away from day-to-day involvement with the club, but the trust transfer ensured continuity in ownership during the legal proceedings.
Details of the Insider Trading Scheme
The US Attorney’s Office for the Southern District of New York released a detailed 29-page dossier in 2023 outlining the scheme. Prosecutors alleged that Lewis shared confidential stock information with several associates, including staff working aboard his private jet and a 33-year-old girlfriend, allowing them to benefit financially from unlawful trades.
Official Confirmation Expected Shortly
The US Department of Justice is expected to issue formal confirmation of the pardon this week. If finalised, the move will rank among the most high-profile white-collar pardons linked to Trump—a politically charged topic as debates continue in Washington about the limits of executive clemency.
The pardon also comes amid renewed scrutiny of insider trading enforcement in the US, following a series of major financial crime cases pursued by federal prosecutors since 2022.
