Joe Louis, an octogenarian British billionaire who wears a patch over his right eye, was released from prison on Thursday after being found guilty of insider trading, claiming he might die in prison due to his “frail” condition. Avoided.
Manhattan Federal Court Judge Jessica Clark granted the 87-year-old defendant a reprieve after prosecutors said they were not “specifically” seeking to jail the former owner of London’s Tottenham Hotspur soccer club. The former owner admitted to giving illegal stock tips to his girlfriend and the pilot. To earn more than $500,000 due to health problems.
“Before you is a frail 87-year-old man with serious health problems, whose condition has worsened since he was charged,” the judge wrote before handing down his sentence. said Lewis’ attorney, David Zohnau.
The no prison sentence comes even after Bahamas-based Lewis admitted to what federal authorities called a “brazen” scheme to connect the pilots with his ex-girlfriend, Carolyn Carter, Miss U.S. Virgin Islands 2016. , meaning you won’t spend a day in jail. Inside information from Brian Waugh and Patrick O’Connor.
The Bahamas-based investment tycoon was released in July after posting $300 million bail, backed by a $250 million yacht (dubbed AVIVA) and a private plane.
“He chose to exploit the access and information he had at the top of the financial mountain, and he did it again and again,” prosecutor Jason Richman said at the hearing.
Prosecutors called Lewis’ age and health problems “unusual circumstances,” but said the no-prison outcome sends a message that “even billionaires are not above the law.” argued in court.
Federal authorities also cited Mr. Lewis’ voluntarily turning himself in from abroad instead of fighting the United States in a potentially lengthy extradition fight.
Lewis sat at the defense table with his arms folded in his lap during the hearing. His right hand, pressed against his left arm, trembled throughout the proceedings, but the pace of trembling quickened as his lawyer began to argue why he shouldn’t go to jail.
Mr. Lewis was also ordered to pay a $5 million fine and his company, Broadbay, was ordered to pay more than $45 million, a loss for the financier whose net worth is estimated at more than $6 billion. is not a large amount. He will also receive a three-year suspended sentence.
Lewis gave a brief speech at the sentencing hearing, calling the crime a “terrible mistake.”
“I broke the law. I’m ashamed, I’m sorry, and I feel responsible,” the defendant said at the defense bench. He then asked the court to give him “time to make amends for the truth that I have spent.”
Regarding the eyepatch, Lewis’ lawyer said his client had “a very serious problem with his right eye” and was scheduled to undergo surgery in the UK soon.
The attorney also mentioned other health issues Lewis suffers from, but did not go into details, citing the elderly’s privacy.
The judge agreed that the health problems were serious enough that if trapped, Lewis would be at “high risk of falling” and could suffer serious and potentially fatal injuries.
“It is clear that Mr. Lewis’ life would be in grave danger if he were to be jailed,” Mr Clark said.
Lewis, his family and his attorney made extensive efforts Thursday to shield him from news cameras, but were unsuccessful. He covered his face with his hands on his way into the courtroom.
On the way home, despite temperatures in the 50s, Lewis put on his bodyguard’s tan North Face winter jacket, pulled the hood over his head, and watched as guards and others guided him to a waiting car. I hid behind the supporters.
