Why is George Soros still considered a respected investor after he was convicted of insider trading? Was originally asked on Yahoo Answers Canada Okay, he was convicted of insider trading, for an alleged crime that took place in 1988, he was convicted, it was upheld by the highest court in France in 2006, upheld by the European Court of Human Rights in 2011............... and yet, today, hes still a Widely-Respected Investor in our community. hes still chairman of Soros Fund Management. he still making a living as one of the richest men in the world picking stocks, and the media takes note of the stocks he picks. hes still regarded as the Warren Buffet of Europe. I dont understand why so many still look up to him. how can a high-profile investor get convicted of Insider trading and still have their career completely in tact? Why is he still a respected investor? Because there will always be people who throw their respect around foolishly. I have long wondered why so many people think Donald Trump is some paragon of success in business. The man is a serial cheat and failure. He is arrogant about being arrogant and famous for being famous. Why did Martha Steward go to prison for insider trading? Technically, she didnt, although that was the initial charge. She was found guilty of obstruction, for making false statements to authorities about the trades. But the reason she went to prison when not all white-collar criminals do was because she was famous. She made a great example. And truth be told, I have to say I enjoy her much more as a celebrity AFTER her release from prison than I did before she was sentenced. I think she amended her attitude, or at least her onscreen persona, in a very positive way. Her punishment is rightly over. Comment: cactusgene answered 2 months ago Here in the States, George Soros, a far left ideologue is protected by the Democratic Party and its far left zealots. But the events you refer to occurred more than more than 25 years ago. Laws in France at that time were far different than what they were in the US and in fact were quite ambivalent if there even was an offense under the laws on the books at that time. In 2002 he was convicted on statutes which were enacted about 2 years AFTER the alleged offenses he is convicted of. A conviction based on a law that is applied retroactively would never fly in any court in either the US or Canada. Here are a couple of excerpts from the New York Times explaining the situation and a link to the complete article below: France’s stock market regulator opened an investigation into the case in 1989, but determined that Mr. Soros had not violated French insider rules, which at the time restricted only employees of the companies concerned from trading on privileged information. The law was revised in 1990 to apply to third parties. Mr. Soros maintained that France had amended its insider trading laws because of his conduct, an argument that the panel of seven human rights judges said Thursday it did not support.
Posted on: Sun, 16 Mar 2014 14:29:37 +0000
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