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Soros Loses Bid to Overturn Insider Trading Conviction

Discussion in 'News & Current Events' started by mandym, Oct 7, 2011.

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  1. mandym

    mandym New Member

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    Read more: http://www.foxnews.com/politics/201...ing-conviction/?test=latestnews#ixzz1a8jUjKqi
     
    #1 mandym, Oct 7, 2011
  2. targus

    targus New Member

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    "A French court found that Soros sold his shares for $2.9 million in profits after receiving insider knowledge about a plan hatched by a group of wealthy French businessman known as the “golden granddads” to force a takeover of the bank.

    The takeover failed but resulted in a higher share price for Societe Generale. French prosecutors launched an investigation in 1990 that ultimately led to Soros’s conviction 12 years later and a $2.9 million fine that was reduced on appeal."

    So his punishment is to pay back less than he profited by committing the crime?

    What about the investors that he cheated? His profits didn't come out of thin air.

    This is justice? :rolleyes:
     
    #2 targus, Oct 7, 2011
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