Source:
REUTERS/Eduardo Munoz
[Saba
Sports News] According to reports from British media, 87-year-old former
Tottenham boss Joe Lewis has been fined $5 million for insider trading,
effectively allowing him to avoid imprisonment. Lewis, the founder of Tavistock
Group, a prominent private investment company, holds a majority control over
Tottenham Hotspur through his family trust. He allegedly made substantial
profits by sharing inside information about his investment firms with
employees, friends, and their romantic partners. In January of this year, Lewis
voluntarily pleaded guilty before a judge, accepted a $5 million fine imposed
on his Bahamas-based company, and stepped down from the company’s board of directors.
The judge took into consideration Lewis’s guilty plea and his physical
condition, resulting in the decision not to sentence him to jail. It is
reported that the verdict against Lewis is not expected to have an impact on
Tottenham Hotspur.