Joe Lewis, the British billionaire whose family trust owns a majority share in Premier League soccer club Tottenham Hotspur, admitted he is 'so embarrassed' after pleading guilty to passing inside information to his private pilots and girlfriend on Wednesday.
The 86-year-old, whose fortune is estimated to be worth $7.6billion, confessed to one count of conspiracy to commit securities fraud and two counts of securities fraud at a hearing in a Manhattan courtroom.
He had faced up to 45 years in prison.
Lewis initially denied 16 counts of securities fraud and three counts of conspiracy last July after he was accused of passing on tips about companies to friends, personal assistants, private pilots and romantic partners.