British billionaire Joe Lewis, the owner of Tottenham Hotspur soccer club, pleaded guilty on Wednesday to insider trading and conspiracy charges in a New York court. This comes six months after Lewis was initially charged in the case. The 86-year-old businessman had been released on $300 million bail, with his yacht and private plane serving as collateral.
Lewis, who did not make any statements as he left court, was shielded from photographers by his aides, a lawyer, and an umbrella. The plea deal, according to U.S. Attorney Damian Williams, includes the largest financial penalty for insider trading in the past decade. As part of the agreement, Lewis's company, Broad Bay Limited, will pay over $50 million in financial penalties.
