New York | A visibly shaking Joe Lewis, the 87-year-old UK billionaire who pleaded guilty to insider trading, was spared jail time by a federal judge in New York.
US District Judge Jessica Clarke at a hearing on Thursday (Friday AEDT) sentenced Lewis to three-years’ probation and a $US5 million ($7.6 million) fine. A lawyer for Lewis, whose investment firm half owns Australian beef giant AACo, said any incarceration would be “catastrophic”.
