Joe Lewis Joins Ranks of Billionaire Felons After Sentencing

Joe Lewis, sentenced to three years probation for insider trading, joins the ranks of billionaires who’ve been convicted of a crime yet managed to hold onto their fortunes.

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.

Joe Lewis arrives at federal court in New York on Thursday.

Photographer: Yuki Iwamura/Bloomberg

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 ...