George Soros fails to clear his name

Click to follow
The Independent Online

The European Court of Human Rights ruled yesterday that France did not violate George Soros's rights when convicting him of insider trading, defeating a years-long effort by the financier to clear his name.

Though Mr Soros has faced criticism for other investment decisions before and since, the French conviction left a particular stain on the Hungarian-born businessman and philanthropist's five-decade career.

He was fined €2.2m in 2002 for purchasing shares in the French bank Société Générale in 1988, days after being informed about a planned takeover bid for the bank. That was the amount he was accused of making when he sold the shares shortly afterward. France's highest court reduced the fine in 2007.