Billionaire Joe Lewis Dodges Prison for Insider Trading

1 min read
Source: New York Post
Billionaire Joe Lewis Dodges Prison for Insider Trading
Photo: New York Post
TL;DR Summary

87-year-old billionaire Joe Lewis, wearing an eye patch, avoids prison for insider trading after citing health concerns, including a risk of falling and potentially fatal injuries. Manhattan federal court Judge Jessica Clarke spared him jail time and imposed a $5 million fine, along with probation for three years, despite prosecutors calling his scheme "brazen." Lewis, whose net worth exceeds $6 billion, admitted to giving illegal stock tips to his girlfriend and pilots, but his health issues and voluntary surrender from overseas led to the no-prison outcome.

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