ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
British billionaire and Tavistock Group owner Joe Lewis will avoid jail time, but pay a $5 million fine tied to insider trading.
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The order was made by U.S. District Judge Jessica Clarke on April 4 in U.S. District Court of the Southern District of New York. Lewis in January pled guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud.
As a part of the sentencing, Lewis also will face three years of probation. The $5 million will be part of $50 million in financial penalties to Lewis’ company Broad Bay Ltd.
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