Published Today 15:16
Magnus Peterson, founder of hedge fund Weavering Capital, was sentenced on Friday to prison for 13 years for fraud in connection with the fund’s collapse in 2009.
Magnus Peterson, founder of hedge fund Weavering Capital, was sentenced on Friday to prison for 13 years for fraud in connection with the fund’s collapse in 2009.
Earlier this week, it became clear that Southwark Crown Court in London found Magnus Peterson guilty.
It reports Reuters referring to the British Serious Fraud Office.
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Weaver Hastings largest fund Macro Fixed Income Fund was marketed as a low-risk fund, but still showed a yield as high as 12 percent annually. According to the prosecutor had losses been hidden using the swap agreement.
Weavering Capital engaged in brokerage operations in Sweden and the United Kingdom between 2007 and 2009, with offices in London, Stockholm, Gothenburg, Luleå and Gävle.
Magnus Peterson a background within SEB, where he was in the middle of the 90th century was the head of the bank’s proprietary trading in securities.
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