GM Strong
Master Chief Petty Officer of the Navy
Joined: 18 Sep 2004
Posts: 1579
Location: Penna
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 Posted: Fri Mar 25, 2005 4:03 pm Post subject: French looking Candidate's financier's conviction upheld. |
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sKerry money man still a felon in France.
Soros Conviction for Insider Trading Upheld in French Court
By Marc Morano
CNSNews.com Senior Staff Writer
March 25, 2005
(CNSNews.com) -- Billionaire financier George Soros's conviction for insider trading was upheld by a French appellate court on Thursday.
Soros, the liberal financier who spent more than $23 million of his own money trying to defeat President Bush last year, was found guilty of insider trading in 2002 by a French court for his involvement in a 1988 takeover battle of the French bank Societe Generale. Soros is facing a fine of $2.87 million.
On Thursday, the Paris Court of Appeal upheld Soros's conviction for obtaining insider information about the bank before a planned corporate raid was launched to drive up the company's share price.
Soros has said he did not have any insider information relating to the bank and argued that the planned takeover was public information. But a three-judge panel at the Paris Court of Appeal ruled that the information Soros possessed was "precise, confidential and of that kind that was likely to influence the share price" of Societe Generale bank.
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8th Army Korea 68-69 |
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