The founder of Weavering Capital, one of Britain’s oldest
hedge funds, has been charged with fraud, fraudulent trading and false
accounting, according to the NY Times' Dealbook.
The Serious Fraud Office of Britain said on Friday that it
had charged Magnus Peterson, 49, with six offenses connected to the collapse of
Weavering Capital in 2009. Mr. Peterson will appear in court early next year.
The London-based hedge fund, which had more than $600
million under management, imploded after it was discovered that a
multimillion-dollar trade in the firm’s flagship fund was linked to an offshore
company controlled by Mr. Peterson....
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