"British Billionaire Joe Lewis Avoids Prison in Insider Trading Case"

87-year-old billionaire Joe Lewis pleaded guilty to insider trading and conspiracy charges in New York but was spared prison time due to failing health and lifetime of good works. He was sentenced to three years probation and a $5 million fine, with prosecutors and the judge agreeing that time behind bars was not necessary. Lewis admitted to sharing secrets about publicly traded companies and his company, Broad Bay Limited, will pay $50 million in financial penalties. Despite being one of the 500 richest people in the world, Lewis' declining health and age were cited as reasons for leniency, and he is set to leave the United States for the Bahamas after paying the fine.