87 year old billionaire Joe Lewis, who admitted to insider trading, was spared from prison and sentenced to three years of probation

87 year old British billionaire Joe Lewis, who admitted to being guilty of insider trading, has been released from prison by a federal judge in New York. US District Judge Jessica Clarke sentenced Lewis to three years of probation and a fine of $5 million during Thursday's hearing. A lawyer for Lewis stated that any imprisonment would be "catastrophic". Lewis was accused of insider trading in the United States in July last year.