Soros fined €2.2m for insider trading

A FRENCH appeals court yesterday confirmed a conviction of US billionaire George Soros for insider trading and a €2.2 million ($2.87 million) fine.

Hungarian-born Soros had appealed a French court’s 2002 decision which found him guilty of using insider information regarding a failed 1988 corporate raid on bank Societe Generale to make $2 million on the company’s stock.

The financier turned philanthropist told the appeals court last month he did not believe he had done anything wrong.