UK Billionaire Lewis Deserves Leniency for Insider Tips, US Says – Bloomberg

British billionaire Joe Lewis would be sufficiently punished with less than a year and a half in prison for passing secret corporate information to his private pilots and girlfriend, US prosecutors told a federal judge ahead of the 87-year-old’s sentencing later this week.

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The plea deal will likely whittle down any sentence for Lewis, who faced as long as 45 years in prison if convicted at trial. His attorneys sought an expedited sentencing due to his age.

The government said in a court filing late Monday that while federal sentencing guidelines call for a term of 18 to 24 months in prison, Lewis deserves leniency given his age, his significant health issues and his voluntary decision to travel to the US to accept responsibility for his crimes.

Source: UK Billionaire Lewis Deserves Leniency for Insider Tips, US Says – Bloomberg