French Court Upholds Soros Conviction
Billionaire investor George Soros failed to erase the only legal blemish on a long financial career when a French appeals court upheld his 3-year-old conviction for insider trading.
The Paris Court of Appeal maintained the guilty verdict and the $2.9-million fine handed down by a lower court -- the same amount that Soros made buying and selling Societe Generale shares in 1988 after receiving information about a planned corporate raid on the bank.
Attorneys for Soros, who did not attend the final hearing, immediately announced that the Hungarian-born businessman planned to appeal to France’s supreme court.
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