LONDON| The Financial Times is reporting that the 87-year-old Billionaire Joe Lewis will avoid prison according to a Federal Manhattan Judge.

According to the Times, “Joe Lewis, the British billionaire whose family owns Tottenham Hotspur football club, will avoid being sent to prison for insider trading, after a federal judge in Manhattan agreed on Thursday to sentence the 87-year-old to a $5mn fine and three years of probation.

In January, he pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud, admitting in court he had known he was breaking the law.

Lewis is the owner of Albany along with Tiger Woods and Ernie Els and actor and musician Justin Timberlake.

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