Hedge Funds

French court upholds Soros insider trading conviction


A French court of appeal on Thursday upheld a 2002 insider-trading conviction for George Soros. The decision by the court also ruled that the billionaire financier and hedge fund manager must pay a $2.8 million fine that accompanied the conviction.

Soros is expected to challenge the latest ruling. The original case against Soros alleged that the Soros Fund Management chief used privileged and insider information on Société Générale stock that allowed him to make an easy $2 million profit. The sale of that stock came in the late 1980s, as SocGen privatized and faced a failed takeover bid. Soros