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British billionaire Joe Lewis dodges prison time for insider trading, gets $5M fine
British billionaire Joe Lewis, whose family owns the Tottenham Hotspur soccer team, dodged prison time in Manhattan on Thursday for a yearslong insider trading scheme the feds described as “brazen.” The 87-year-old Tavistock Group founder was sentenced to three years’ probation and agreed to pay a $5 million fine for sharing tips with friends, romantic partners and two personal pilots, among others, allowing them to rake in millions. Lewis’ Bahamas-based company, Broad Bay, Ltd., previously agreed to a $50 million fine for failing to detect and report his misconduct. Lewis’ $5 million fine will be folded ... (full story)
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