Friday, October 07, 2011

George Soros loses an appeal, still a convict

The biggest threat to freedom in the US lost his appeal. Power mad George Soros is still convicted of "trading with inside information."

From the London Telegraph

he European Court of Human Rights has ruled against Mr Soros in the latest blow to the investor in his nine-year battle to have the conviction overturned.

Mr Soros was found guilty of trading on insider information in the French bank but argued that trading regulations were ambiguous.

In a statement released following the unsuccessful appeal, the Court said that while the law was not precisely worded, investors had a duty to be prudent.

The court said Mr Soros was a "famous institutional investor, well-known to the business community" and "could not have been unaware that his decision to invest in shares in [Societe Generale] entailed the risk that he might be committing the offence of insider trading."

Mr Soros, now 81, was fined the €2.2m (£1.9m) he had made from trading in the French bank's shares.

Not many people know that George Soros was convicted of insider trading.

1 comment:

Communications guru said...

Back to your favorite boogyman. Gee, I would have thought Warren Buffet would have replaced self-made billionaire and humanitarian George Soros as the most hated liberal billionaire. I guess Republicans like you hate all rich people who earn it and only worship those in the lucky sperm club like the Koch brothers and Richard Mellon Scaife.