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Appeals Court Upholds Soros Conviction And Fine

Friday, March 25, 2005

On March 24, a French Appeals Court upheld a conviction for insider trading against billionaire anti-gunner and anti-Bush zealot George Soros. The court additionally upheld a fine of 2.2 million euros (approximately $2.9 million at current rates) stemming from Soros` 2002 conviction on the same charge. The three-judge panel was deciding whether to overturn, modify, or uphold his original conviction and fine.

Contrary to his November 2002 testimony where he stated, "I have been in business all my life, and I think I know what is insider trading and what isn`t," at an appeals hearing last month, Soros acknowledged hearing about a Paris financier`s plans to take over a newly privatized French bank days before he began buying its shares independently.

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Established in 1975, the Institute for Legislative Action (ILA) is the "lobbying" arm of the National Rifle Association of America. ILA is responsible for preserving the right of all law-abiding individuals in the legislative, political, and legal arenas, to purchase, possess and use firearms for legitimate purposes as guaranteed by the Second Amendment to the U.S. Constitution.