UK billionaire Joe Lewis receives pardon from Trump

November 13, 2025

British billionaire Joe Lewis, the 88-year-old founder of Tavistock Group whose family trust controls Tottenham Hotspur football club, has been pardoned by President Trump for insider trading violations. Lewis had admitted guilt in 2024 to sharing confidential corporate information with pilots, assistants, friends, and romantic partners between 2013 and 2021, allowing them to profit millions from stock trades. As part of a plea agreement, he paid a $5 million fine and received three years probation instead of prison time.

Who is affected

Joe Lewis (88-year-old billionaire businessman)
Lewis's private pilots, personal assistants, friends, and romantic partners who received insider information
Lewis's grandchildren and great-grandchildren in the US
The Tavistock Group (Lewis's investment firm)
Tottenham Hotspur football club (controlled by Lewis family trust)
US prosecutors and the justice system

What action is being taken

No ongoing actions are explicitly described in the article. The pardon has been completed, and Lewis has already paid his fine and received his sentence.

Why it matters

This case demonstrates how even billionaires with vast resources can face legal accountability for securities fraud, though the pardon raises questions about access to presidential clemency. The insider trading scheme netted millions in illegal profits and undermined market fairness by giving Lewis's associates access to non-public information that allowed "sure thing" bets. The pardon's approval on medical and family visit grounds illustrates how humanitarian considerations can override criminal penalties, particularly for elderly offenders who have cooperated with authorities and paid substantial fines.

What's next

No explicit next steps stated in the article

Read full article from source: BBC