Hedge fund founder guilty of fraud

After a 3 month trial, Magnus Peterson, founder of the Weavering Macro Fixed Income Fund, has been found guilty of eight counts of fraud, false accounting, fraudulent trading, obtaining a money transfer by deception and forgery. The dishonesty started when the Fund was established in August 2003 and unfolded during the height of the financial crisis in 2008. The Fund collapsed in 2009 with a loss to investors of over $530m.

Rachel Barnes prosecuted on behalf of the Serious Fraud Office, led by Amanda Pinto QC.

20th January 2015