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Billionaire Soros: Guilty of Insider Trading
voanews.com ^
| 20 Dec 2002, 13:23 UTC
| VOA News
Posted on 12/20/2002 10:53:03 AM PST by Destro
Billionaire Soros: Guilty of Insider Trading
VOA News
20 Dec 2002, 13:23 UTC
A French court has found U.S. billionaire George Soros guilty of insider trading and fined him $2.2 million on charges that date back nearly 15 years.
The court's penalty is the same amount of money the Hungarian-born financier was accused of having made from buying and selling stocks with insider knowledge at French bank Societe Generale 14 years ago.
The 72-year-old Soros is the president of Soros Fund Management, the world's largest hedge fund. He denied all the charges and was not in court Friday when the verdict was announced.
Soros' defense lawyers argued unsuccessfully that the case should be thrown out because it took so long to bring to court.
Societe Generale was privatized in 1987. A year later, its stock price went up during an unsuccessful takeover bid. Soros was accused of having bought stock based on insider information before the abortive corporate raid pushed up the price.
Soros' two co-defendants, Jean-Charles Naouri and Samir Traboulsi, were both acquitted.
U.S. finance magazine, Forbes, ranked George Soros as the world's 37th richest person this year, with an estimated fortune of $6.9 billion.
Some information for this report provided by Bloomberg.
TOPICS: Breaking News; Foreign Affairs
KEYWORDS: balkans; georgesoros; insidertrading; soros
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1
posted on
12/20/2002 10:53:03 AM PST
by
Destro
To: *balkans
bump
2
posted on
12/20/2002 10:53:27 AM PST
by
Destro
To: Destro
Smithers my wallet's in my right back pocket.
3
posted on
12/20/2002 10:55:41 AM PST
by
weikel
To: Destro
To: Texaggie79
Ain't I a handsome and menacing bloke?
5
posted on
12/20/2002 11:02:01 AM PST
by
Destro
To: Destro
Indeed. And I still have you in my mom's attic.
To: Destro
Sentenced to a 4 instead of a 5 star hotel. His family is devastated by the harsh sentence.
To: Texaggie79
Not in the original packaging? Tisk, tisk.
8
posted on
12/20/2002 11:06:34 AM PST
by
Destro
To: Destro
GASP! How could this be true of the main contributor to The Brady Campaign to Disarm the Law-Abiding?
9
posted on
12/20/2002 11:09:00 AM PST
by
pabianice
To: Texaggie79
Watch out. I got arrested for tricker treating in an outfit like that.
The pompas ass judge gave me a big lecture concerning my timing.
1:00 am in july.
To: Destro; Kevin Curry
... George Soros guilty of insider trading and fined him $2.2 million ...
That'll help pay for a few "free" heroin needles.
To: Bluntpoint
tricker treating What's that?
12
posted on
12/20/2002 11:21:35 AM PST
by
TopQuark
To: TopQuark
It is Halloween or what a good prostitutes does.
To: Destro
A French court has found U.S. billionaire George Soros guilty of insider trading and fined him $2.2 million on charges that date back nearly 15 years. He's probably got that much buried in his sofa cushions.
14
posted on
12/20/2002 11:35:07 AM PST
by
dirtboy
To: Bluntpoint
The expression is "trick or treat." There is no such word as "tricker."
15
posted on
12/20/2002 11:35:21 AM PST
by
TopQuark
To: Destro
Same as a guy with a net worth of $690,000 being fined $220. Whoopee, what a punishment.
16
posted on
12/20/2002 11:37:18 AM PST
by
Rightone
To: TopQuark
Well, I guess your smarterer than me.
To: Destro
18
posted on
12/20/2002 11:40:54 AM PST
by
droid
To: Bluntpoint
I guess your [you are] smarterer than me. Not necessarily: it's not the question of intelligence. It is, however, the question of respecting the listener and, more importantly, preserving our heritage. The language reflects one's values.
So please do not be offended. I too make mistakes, but I do care. A person who confuses "you are" and "your," which is used a million times a day, does not appear to be.
19
posted on
12/20/2002 11:44:47 AM PST
by
TopQuark
To: TopQuark
Your write.
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