British billionaire and former Hotspurs FC owner Joe Lewis avoided jail time as he appeared in US court to face sentencing for insider trading charges in New York Thursday.Lewis, 87, pled guilty to ‘brazen’ insider trading and conspiracy charges in January, admitting to sharing insider secrets about publicly traded companies with several individuals.Under US sentencing guidelines, Lewis, worth approximately $6.2 billion, faced 18 months to two years behind bars but he escaped jail time as Judge Jessica G.L. Clarke instead handed down a sentence of three years probation and $5million fine after prosecutors urged for leniency.
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