US President Donald Trump has unexpectedly pardoned British billionaire Joe Lewis, the former owner of Tottenham Hotspur Football Club, in connection with a 2024 conviction for insider trading.
Lewis, who was found guilty last year and fined $5 million along with being given three years' probation, will now be completely cleared of all charges. The fine will not be repaid to him or his company, Broad Bay. According to the White House, Lewis had requested a pardon so that he could receive medical treatment and visit his family in the US.
The news has sent shockwaves through the business world, particularly given Lewis's status as a major player in the UK pub and restaurant industry, with an ownership stake of 90% in Mitchells & Butlers. The decision has also raised eyebrows following Trump's history on pardoning high-profile individuals.
As part of his plea deal, Lewis initially denied any wrongdoing but later confessed to involvement in a "brazen" insider trading scheme that was alleged to have enriched his friends, lovers and employees. He expressed remorse for the crime and held himself accountable for the mistakes made.
Lewis's case began unfolding in 2023, when prosecutors published a detailed dossier outlining how he had passed share tips based on inside information to his employees, including his private jet pilot and then-girlfriend Carolyn Carter, allowing them to profit from stock trading.
Lewis, who was found guilty last year and fined $5 million along with being given three years' probation, will now be completely cleared of all charges. The fine will not be repaid to him or his company, Broad Bay. According to the White House, Lewis had requested a pardon so that he could receive medical treatment and visit his family in the US.
The news has sent shockwaves through the business world, particularly given Lewis's status as a major player in the UK pub and restaurant industry, with an ownership stake of 90% in Mitchells & Butlers. The decision has also raised eyebrows following Trump's history on pardoning high-profile individuals.
As part of his plea deal, Lewis initially denied any wrongdoing but later confessed to involvement in a "brazen" insider trading scheme that was alleged to have enriched his friends, lovers and employees. He expressed remorse for the crime and held himself accountable for the mistakes made.
Lewis's case began unfolding in 2023, when prosecutors published a detailed dossier outlining how he had passed share tips based on inside information to his employees, including his private jet pilot and then-girlfriend Carolyn Carter, allowing them to profit from stock trading.
This is insane! 90% ownership stake in Mitchells & Butlers? The man must have been playing some crazy poker face to get away with all this 
. Three years of probation and $5 million fine is already a pretty harsh punishment for what sounds like some shady business dealings. I don't think the guy deserves to be completely cleared of all charges... not saying he didn't make mistakes, but still... $90% ownership stake in Mitchells & Butters? That's some serious influence 
. Guess you could say this is a big win for Lewis and his friends... but not really anyone else 
.
! Can't believe Trump is just handing out pardons left and right like they're Christmas presents 
. First it's Joe Lewis, who's basically a billionaire playboy, and now you know what else he's guilty of... insider trading? Give me a break 
. I mean, I get that he's got medical issues and wants to visit his fam, but $5 million fine gets waived? That just doesn't sit right with me 
What's next, pardoning Martha Stewart again? 
.
. The reasoning behind this pardon does seem rather convenient, especially with the claim that Lewis needed medical treatment and family visits... sounds like an unlikely scenario considering he's already been found guilty 
.
. It'll be interesting to see how this affects Lewis's business empire, particularly given his significant stake in the UK pub and restaurant industry 
.
hopefully he can get that medical treatment and family visit without any more drama 
. Can't wait 2 c how this all plays out now 
treatment from Trump! 90% of Mitchells & Butlers? That's some heavy 
pardon? It's like, he owned up to his mistakes and all (kinda), but the business world is still shook. 
The fact that he got away scot-free makes me wonder if Trump's pardoning skills need some 
work... 
.
.
I'm telling you, this is bigger than just one guy getting off scot-free. There's a hidden agenda here and I aim to uncover it 
️.
... but at what cost?