Soros (funder of Occupy Wallstreet) convicted of insider trading

[briann]

Soros Loses Bid to Overturn Insider Trading Conviction - Incredible Hypocrisy

http://www.foxnews.com/politics/2011/10/07/soros-loses-bid-to-overturn-insider-trading-conviction/

Published October 07, 2011

Reuters

FILE: Billionaire financier George Soros speaks at a Reuters Newsmaker event in New York on Sept. 15, 2010.

George Soros, the billionaire financier and liberal activist, was dealt a legal blow this week when the European Court of Human Rights refused to overturn his nine-year-old criminal conviction for insider trading.

A French court convicted Soros in 2002 for insider trading in the late 1980s, but the Hungary-born investor appealed, arguing that the French law on insider trading at the time was too ambiguous to find him guilty.

But the European court ruled Thursday in a 4-3 decision that the French rules were clear enough to convict him.

Soros’s lawyer, Ron Soffer, told the Wall Street Journal that his client would appeal the decision.

“There are some serious questions that still need to be answered,” Soffer told the newspaper.

The conviction is based on a 1988 investment Soros made in French bank Societe Generale. A French court found that Soros sold his shares for $2.9 million in profits after receiving insider knowledge about a plan hatched by a group of wealthy French businessman known as the “golden granddads” to force a takeover of the bank.

The takeover failed but resulted in a higher share price for Societe Generale. French prosecutors launched an investigation in 1990 that ultimately led to Soros’s conviction 12 years later and a $2.9 million fine that was reduced on appeal.

Soros’s legal team has argued that even France’s former market regulator found the country’s insider trading laws too vague.

But on Thursday, the European court said in a statement that while the French law wasn’t precise, Soros was a sophisticated investor and “could not have been unaware that his decision to invest in shares in [Societe Generale] entailed the risk that he might be committing the offense of insider trading,” the Wall Street Journal reported.

Soros’s last chance to clear his name rests on an appeal to the Grand Chamber of the European Court of Human Rights.

Read more: http://www.foxnews.com/politics/2011/10/07/soros-loses-bid-to-overturn-insider-trading-conviction/#ixzz1a82Hj3tB

[Zelhar]

He only made like 10 billion in profit the past few years, I am sure he is all worried now about how to recover his $2.9 million  fine. In America I think he would serve prison time for insider trading.

[briann]

He only made like 10 billion in profit the past few years, I am sure he is all worried now about how to recover his $2.9 million  fine. In America I think he would serve prison time for insider trading.

You are 100% right.  Our insider trading laws would put him behind bars for his actions if his trades were in the U.S.  These laws exist to ensure that a small few can't profit over the average investor, and yet... why aren't the 'Occupiers' aren't demanding Soros be behind bars for what he did??  They are instead lionizing him..  

If they aren't against this, that what exactly ARE they against?

[Kahane-Was-Right BT]

Soros is funding the occupy wallstreet?  Are u serious?   Life gets crazier by the day.  If u have a link please post it.  That is some serious irony right there.

[briann]

Soros is funding the occupy wallstreet?  Are u serious?   Life gets crazier by the day.  If u have a link please post it.  That is some serious irony right there.

Theres lots of news on this.  It shouldnt be surprising at all.  Soros is very intertwined with a lot of the groups that are hyping and pushing Occupy wall street, including those who originated the idea and even the name

Soros’ support for the protesters goes far beyond his tepid public statements. In fact, the original call to “Occupy Wall Street” came from the magazine AdBusters, an “anti-consumerist” publication financed by the Soros-funded Tides Foundation.

Other Soros-backed outfits promoting big government are also publicly driving the occupation campaign. MoveOn.org, for instance, has received millions of dollars from the billionaire banker. And now, the group is urging its supporters to be part of the Occupy Wall Street movement.   “Over the last two weeks, an amazing wave of protest against Wall Street and the big banks has erupted across the country,” MoveOn said in a recent e-mail to supporters, praising the “brave” demonstrators. “On Wednesday, MoveOn members will join labor and community groups in New York City for a huge march down to the protest site — the biggest yet.”

On top of supplying activists to join the demonstrations, MoveOn is also staging what it calls a “massive ‘Virtual March on Wall Street’ online.” The Internet-based demonstrations are a collaborative effort with another radical and well-connected outfit tied to Soros called Rebuild the Dream.

Led by self-described communist and former Obama administration czar Van Jones, the “Dream” movement is a partnership between a host of Soros-financed “progressive” groups. Big Labor and even Planned Parenthood — the largest abortion provider in America, which receives hundreds of millions of tax dollars each year — are partners, too.

“Together, we'll add hundreds of thousands of voices of solidarity from the American Dream Movement for the protests across the country and show just how widespread outrage at the Wall Street banks really is,” MoveOn boasted in its e-mail.

Other groups working with Rebuild the Dream are also publicly hyping the demonstrations. And more than a few of them are on the Soros payroll as well. Some examples include People For The American Way, Planned Parenthood, Campaign For America's Future, Democracy For America, Leadership Conference for Civil and Human Rights, Common Cause, Public Campaign, and many more.

[muman613]

I could smell soros's involvement from a thousand miles away...

[Rubystars]

I don't like the idea of anyone going to hell but this guy needs to go ahead and die already. He's already done so much evil in his life! Why is it that someone like him lives a long relatively healthy life while much younger and less powerful leftists die?

[Ulli]

This Soros is unbelievable. He grabs at the stock exchange greedy like a lion, sometimes even with criminal methods like this article proves, while at the same time he is supporting socialist groups like "Occupy Wall Street".

And he is doing this thing over a period of time in lots of countries. I can only assume that he speculates thatthe more he influences a society towards socialism, the more he will be able to grab.

And I assume further, that this trick was was the main factor for his success.

[Rubystars]

The sad thing for him is that when he does die all his money won't do him any good.

[Zelhar]

This Soros is unbelievable. He grabs at the stock exchange greedy like a lion, sometimes even with criminal methods like this article proves, while at the same time he is supporting socialist groups like "Occupy Wall Street".

And he is doing this thing over a period of time in lots of countries. I can only assume that he speculates thatthe more he influences a society towards socialism, the more he will be able to grab.

And I assume further, that this trick was was the main factor for his success.

He thrives from chaos. He made allot his fortune from betting on macro events. I say betting but in some cases it seems he tries to arrange macro events.

[Ulli]

He thrives from chaos. He made allot his fortune from betting on macro events. I say betting but in some cases it seems he tries to arrange macro events.

 I think lots of socialist politicans which he supported give him informations and help him arranging.

By the way a friend, who has very rich parents, told me, that his family has never made so much money as under the socialist gouvernment (SPD and Green party). It twisted the whole economic rules with subsidies, nepotism and transfers, that if you are close to them you can make money like crazy. Actually his family sold this solar panels. Althrough he know that this panels are not cost effective the family sold lots of them, because the gouvernment garantied their customers more then 3 times the energy price that the end consumers have to pay.

Actually at the peak of this subsidies it was 57,4 cent / kilowatt hour. The normal energy price at the same time in 2004 for end consumer was 17,9 cent / Kilowatthour. Of cause the 57,4 cent is allocated by law on all end consumers.

But nowerdays they cut the subsidies step by step, because it became simply too expensive for the end consumers and from 2005 is Merkel in power.

[Zelhar]

I think lots of socialist politicans which he supported give him informations and help him arranging.

By the way a friend, who has very rich parents, told me, that his family has never made so much money as under the socialist gouvernment (SPD and Green party). It twisted the whole economic rules with subsidies, nepotism and transfers, that if you are close to them you can make money like crazy. Actually his family sold this solar panels. Althrough he know that this panels are not cost effective the family sold lots of them, because the gouvernment garantied their customers more then 3 times the energy price that the end consumers have to pay.

Actually at the peak of this subsidies it was 57,4 cent / kilowatt hour. The normal energy price at the same time in 2004 for end consumer was 17,9 cent / Kilowatthour. Of cause the 57,4 cent is allocated by law on all end consumers.

But nowerdays they cut the subsidies step by step, because it became simply too expensive for the end consumers and from 2005 is Merkel in power.

You know George Soros had probably bought solar panel stocks and lobbied the governments to subsidize them, and then he sold the stock and started shorting them to squeeze more profit when governments discovered it was too expensive and started backing out of the subsidies.

[Ulli]

You know George Soros had probably bought solar panel stocks and lobbied the governments to subsidize them, and then he sold the stock and started shorting them to squeeze more profit when governments discovered it was too expensive and started backing out of the subsidies.

Perhaps he has done this already.

[Kahane-Was-Right BT]

You know George Soros had probably bought solar panel stocks and lobbied the governments to subsidize them, and then he sold the stock and started shorting them to squeeze more profit when governments discovered it was too expensive and started backing out of the subsidies.

Lol sounds about right.

"Government handouts: a business that can't fail... until the govt tells you its stopping the handouts and you short it to bankruptcy"