Philanthropic troublemaker extraordinaire George Soros lost his bid to have a 2002 insider trading conviction in France overturned.
Big Government reports:
Billionaire funder of left-wing causes George Soros, 81, lost his appeal to have his 2002 insider trading conviction overturned. The European Court of Human Rights Grand Chamber refused to consider whether France had violated his rights, reports Bloomberg News.
Paris courts convicted Mr. Soros in 2002 for having used nonpublic information about Societe Generale SA in his investments. Mr. Soros claimed that vague French market regulations were to blame.
As The Guardian reported in 2002, “Société Générale was privatised in 1987. A year later, its stock price went up during an unsuccessful takeover bid. Mr Soros was accused of having obtained insider information before the abortive corporate raid pushed up the stock price.” Mr. Soros was forced to pay a $2.93 million fine, which was later reduced.