President Donald Trump has granted a full pardon to British billionaire Joe Lewis, whose family trust controls the Tottenham Hotspur football club, erasing his 2024 conviction for a “brazen” scheme of insider trading in New York.
The pardon, confirmed by a White House official on Thursday, swiftly cleans the criminal record of the 88-year-old investor, who had previously pleaded guilty to conspiracy and securities fraud charges and was sentenced to probation and a $5 million personal fine last year.
The Crime and The Punishment
Mr. Lewis, who built his fortune in currency trading and owns the massive Tavistock Group portfolio, admitted in January 2024 to illegally passing on highly confidential, nonpublic information about four companies to a network of friends, employees, and romantic partners between 2019 and 2021.
- The Scheme: Prosecutors from the Southern District of New York (SDNY) accused Lewis of using corporate boardrooms for personal gain, effectively using his inside tips as a way to “shower gifts” on his inner circle, allowing them to make millions of dollars betting on the stock market.
- The Plea: Lewis pleaded guilty to reduced charges to avoid a lengthy trial. At his sentencing in April 2024, a federal judge cited his advanced age, failing health, and willingness to return to the U.S. to face charges—rather than forcing a protracted extradition battle—as mitigating factors in sparing him a prison sentence, instead imposing three years of probation and the $5 million fine. Lewis’s company, Broad Bay Limited, was also ordered to pay an additional $44 million penalty.
The Pardon’s Rationale
Mr. Lewis, who resides outside the U.S., had specifically sought the pardon to remove the legal restrictions that prevented him from receiving medical treatment and visiting his grandchildren and great-grandchildren in the United States.
In a statement released through a source close to the family, the billionaire expressed relief:
“I am pleased all of this is now behind me, and I can enjoy retirement and watch as my family and extended family continue to build our businesses based on the quality and pursuit of excellence that has become our trademark.”
The pardon immediately drew fire from critics who argue that the President has a pattern of using his clemency powers to benefit wealthy individuals convicted of financial crimes, noting that Lewis joins a list of high-profile white-collar defendants pardoned by the administration.
No Change at Spurs
While the pardon is a major personal victory for Mr. Lewis, it is not expected to trigger any operational change at the Premier League club Tottenham Hotspur.
Lewis passed majority ownership of the club to the Lewis Family Trust in 2022, well before he was charged, and he has not been involved in its operations since. The club is now overseen by the next generation of his family, and sources close to the family confirmed that Lewis intends to remain in retirement.
The pardon, however, fully restores Mr. Lewis’s civil rights and gives him a clean slate from his felony conviction, definitively closing the door on the legal chapter that threatened to tarnish his legendary business career.