French court found George Soros guilty and - released him
It was obvious that famous international profiteer and philanthropist George Sores would evade penalty for his highly sensitive machinations in the heart of French bank system. So, French legislation found the financier guilty and sentenced him to a laughable (for him) penalty and released him.
According to the Bloomberg agency, George Soros has been found guilty in so-called insider bargains with taking advantage of confidential information and in the attempt to illegally absorb the French bank Societe Generale. The court made the financier and philanthropist pay the penalty of 2.3 million dollars.
Ironically, Jean-Charles Naouri, former functionary of the French Government, and financial profiteer Samir Traboulsi, who were witnesses of the case and who, according to the investigation suspicions, gained to Soros the access to the sources of confidential information, were acquitted. Analyzers, while remembering all financial scandals connected with Soros, characterize the sentence as too light.
The penalty sum Soros is sentenced to pay, according to analyzers, is equal to the profit he got from the machinations with Societe Generale shares.
The trial-in-question of Soros was connected with the 1988 events. At that time, in the framework of a great speculation operation, a group of investors tried to put the bank Societe Generale, which was privatized by French Government a year earlier, under its control. The public prosecutor office found out the investors had taken advantage of information they got from one of the bank administration members and from a French Government functionary.
The practice like that is forbidden in France and inflicts two-year imprisonment. It is curious that the prosecutor did not tried even to place the defendant under guard.
Though, the most curious thing is that the profiteer was indignant with the court decision and intends to appeal against it in the highest instances. According to him, he has never possessed confidential information about the Societe Generale bank, so the court decision has no ground. Akhtyam Akhtyrov PRAVDA.Ru
Translated by Vera Solovieva
Read the original in Russian: http://economics.pravda.ru/economics/2002/7/21/64/4666_Soros.html
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