Weavering Hedge Fund Founder Jailed 13 Years For Fraud

Weavering Capital (UK) Ltd founder Magnus Peterson has been sentenced to 13 years in prison after he was found guilty of fraud by a London court this week.

This marks one of the longest sentences handed down for a high-profile fraud in the UK in recent times.

Peterson perpetrated fraud

Magnus Peterson is the founder of one of London’s oldest hedge funds. The UK’s Serious Fraud Office (SFO) charged the founder with several criminal offenses. As reported by ValueWalk, the case against the hedge fund began in 2009, when the fund was liquidated as it failed to meet client requests for redemption of capital. Though the SFO had originally closed the investigation,...