The British billionaire Joe Lewis was spared jail time for his part in a “brazen” insider trading conspiracy on Thursday, and was instead fined $5m and given a three-year probation by a New York judge.
The 87-year-old, who heads the family that owns Tottenham Hotspur, had faced as much as 45 years in prison if convicted at trial. But in a court filing on Monday, prosecutors said Lewis deserved leniency given his age, health issues and the fact that he had voluntarily come to the US to face punishment.
It costs about $5k for a decent lawyer in the u.s. for a minor offense, not including random expenses and fees. It could cost way more depending on the complexity of the case. One trip to jail can bankrupt the average American and it’s entirely up to the discretion of a cop with a highschool education and nearly unlimited immunity.
Most people can’t even afford to pay bond to get out of jail, so they can lose everything they own. Certain places have “crime free housing” ordinances and the entire household can be evicted and blacklisted from renting in that town based solely on an arrest.
People didn’t realize that they are on the razors edge and fuck wads like this get to walk away with no consequences.