Joe Lewis Joins Ranks of Billionaire Felons After Sentencing [BNN Bloomberg (Canada)]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: BNN Bloomberg
The Tavistock Group founder, 87, was spared jail time Thursday by a federal judge in New York who cited his age and health issues. In his plea deal, Lewis waived his right to appeal unless he was sentenced to prison. He was also fined $5 million. The verdict caps one of the most turbulent periods of Lewis' career, tainting the rags-to-riches tale of a high-school dropout from east London who forged a global empire that today spans five-star hotels, private lenders and enclaves for the wealthy. Read More: UK Billionaire Joe Lewis Avoids Prison With 3-Year Probation But it hasn't dented his wealth. Lewis has a fortune of $7.3 billion, making him the world's 355th-richest person, according to the Bloomberg Billionaires Index. That total is higher than just before he was charged with insider trading in July, partly from an all-cash buyout deal earlier this year that cemented eight-fold gains for one of the firms at the center of the insider-trading case. “Mr. Lewis is grateful th
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