Billionaire loses insider trading appeal

Billionaire investor George Soros failed to erase the only legal blemish on a long financial career today, when a Paris appeals court upheld his conviction for insider trading.

Rejecting Soros’ bid to clear his name, the Court of Appeal maintained the guilty verdict and €2.2m fine handed down by a lower court – the same amount that Soros made buying and selling Societe Generale shares in 1988 after receiving information about a planned corporate raid on the bank.