British billionaire and Tottenham Hotspur owner Joe Lewis exits the United States Courthouse in Manhattan, following his appearance on insider trading charges, in New York City, U.S., July 26, 2023. British billionaire Joseph Lewis pleaded guilty Wednesday in New York federal court to securities fraud related to insider trading. Lewis' company, Broad Bay Ltd., also pleaded guilty in the same proceeding to participating in a scheme to hide his ownership of shares of a pharmaceutical company by making false filings and misleading financial statements. "Now, he will pay the price with a federal conviction, the prospect of time in prison, and the largest financial penalty for insider trading in a decade." Lewis, 86, faces a maximum possible sentence of 20 years in prison on the charges he pleaded guilty to in U.S. District Court in Manhattan: one count of conspiracy to commit securities fraud, and two counts of securities fraud.

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Persons: Joe Lewis, Joseph Lewis, Lewis, Broad, Damian Williams Organizations: Tottenham Hotspur, United, Broad, Broad Bay Ltd, Manhattan U.S Locations: Manhattan, New York City, U.S, New York, Broad Bay