Donald Trump has issued a surprise pardon to British billionaire Joe Lewis, 88, who was convicted of insider trading in the United States. The billionaire, once a prominent figure in the UK's football scene as the owner of Tottenham Hotspur FC, had pleaded guilty to his role in a scheme that prosecutors described as "brazen" and designed to enrich friends, lovers, and employees.
Lewis was initially fined $5 million (ยฃ3.8 million) and given three years' probation after pleading guilty to multiple counts of securities fraud and conspiracy. However, he later changed his plea to guilty after the prosecution agreed to a non-custodial sentence.
The pardon, which has left many questioning Trump's motives, means that Lewis will not face any further penalties for his crimes. The fine associated with his company, Broad Bay, is also unlikely to be repaid.
According to sources close to the family, Lewis had requested the pardon so he could receive medical treatment and visit his grandchildren and great-grandchildren in the US. The billionaire, who owns a significant stake in Mitchells & Butlers, one of the UK's largest operators of pubs, bars, and restaurants, expressed gratitude for the pardon.
However, not everyone is celebrating Lewis' reprieve. Critics have accused Trump of issuing pardons to wealthy individuals with connections to his own interests, sparking calls for greater scrutiny into the pardoning process.
The surprise move has also raised questions about the extent to which Lewis was involved in the insider trading scheme and whether he truly received medical treatment as stated by his representatives. The White House confirmed that Lewis had requested the pardon but refused to provide further details on its motivations.
Lewis, who has built a business empire across the globe, already transferred his majority ownership interest in Tottenham Hotspur FC to his family via a trust in 2022 before being charged with insider trading. His daughter Vivienne and son Charles now oversee the football club, while his great-grandchildren are among those Lewis will be visiting as part of his post-pardon plans.
The pardon marks another significant development in Trump's presidency, which has seen him grant pardons to several high-profile figures accused of crimes such as corruption and treason.
Lewis was initially fined $5 million (ยฃ3.8 million) and given three years' probation after pleading guilty to multiple counts of securities fraud and conspiracy. However, he later changed his plea to guilty after the prosecution agreed to a non-custodial sentence.
The pardon, which has left many questioning Trump's motives, means that Lewis will not face any further penalties for his crimes. The fine associated with his company, Broad Bay, is also unlikely to be repaid.
According to sources close to the family, Lewis had requested the pardon so he could receive medical treatment and visit his grandchildren and great-grandchildren in the US. The billionaire, who owns a significant stake in Mitchells & Butlers, one of the UK's largest operators of pubs, bars, and restaurants, expressed gratitude for the pardon.
However, not everyone is celebrating Lewis' reprieve. Critics have accused Trump of issuing pardons to wealthy individuals with connections to his own interests, sparking calls for greater scrutiny into the pardoning process.
The surprise move has also raised questions about the extent to which Lewis was involved in the insider trading scheme and whether he truly received medical treatment as stated by his representatives. The White House confirmed that Lewis had requested the pardon but refused to provide further details on its motivations.
Lewis, who has built a business empire across the globe, already transferred his majority ownership interest in Tottenham Hotspur FC to his family via a trust in 2022 before being charged with insider trading. His daughter Vivienne and son Charles now oversee the football club, while his great-grandchildren are among those Lewis will be visiting as part of his post-pardon plans.
The pardon marks another significant development in Trump's presidency, which has seen him grant pardons to several high-profile figures accused of crimes such as corruption and treason.