A Paris court has found US billionaire George Soros guilty of using inside information to make money on shares in bank Societe Generale and fined him €2.2 million.
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Soros: 'The Man Who Broke the Pound'
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Hungarian-born Soros, 72, was convicted of using insider information of a botched 1988 corporate raid on Societe Generale to make $2 million on the company's stock. The financier turned philanthropist had denied the allegations. He was not in court.
Soros' lawyers had argued the case was too old to judge. Soros is best known as "The Man Who Broke the Pound" for betting against sterling in 1992 until London pulled out of the European currency grid that prefigured the European single currency.