Lewis in January entered a plea deal with prosecutors agreeing to a $50-million fine of his Bahamas company, Broad Bay
British multibillionaire Joe Lewis is scheduled to face sentencing in a U.S. court on Thursday for illegally sharing stock tips he gleaned through his investments.
The guidelines do not bind U.S. District Judge Jessica Clarke, who will hand down a sentence based on a range of factors including Lewis’ personal history, the seriousness of the crime and the need to deter others. He has also agreed to resign board seats he holds at U.S. companies and relinquish his majority ownership of Boxer Capital, the biotech-focused fund where prosecutors say he got tips.
The London native, who now lives in the Bahamas, traveled to the New York to face the charges immediately after learning of his indictment, his attorneys said in court papers. Lewis has since remained in the country, posting $300-million bail secured by his yacht, the Aviva, and a private aircraft.
Information Company Prosecutors Prosecutor Lewis Leniency Sentencing Patrick O'connor Tottenham Hotspur Bahamas
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