 Billionaire investor George Soros was found guilty of insider trading by a French appeals court, confirming a 2002 conviction and threatening to prolong a 16-year legal affair. The Paris appeals court ruled that Soros's 1988 purchase of Societe Generale SA shares with the knowledge that it was a takeover target broke French insider trading laws. Odile Faivre, head of the court's three-judge panel, read out the verdict. Soros wasn't present in the room. The verdict marks the only legal stain on Soros's 40-year investing career. It comes at a time when Soros, 74, is no longer actively investing and has turned his attention to political and charitable activities. Soros spent $26.5 million in a failed effort to defeat President George Bush in last year's U.S. presidential elections. ``Mr. Soros maintains his innocence,'' said Michael Vachon, his spokesman. ``He will appeal this case. He is confident that he will ultimately be vindicated in this matter and that justice will be served.'' |