LONDON Dec 14 Britain's Serious Fraud Office
has charged Magnus Peterson, the founder of Weavering Capital,
with fraud and forgery, just months after reopening its
investigation into the collapsed hedge fund.
The SFO said in a statement that Peterson is charged with
six offences. These comprise two offences of false accounting,
one offence of fraudulent trading, one offence of fraud by abuse
of position and two offences of forgery.
The SFO reopened its probe in July just weeks after damages
of $450 million were awarded against the fund's manager in a
civil case in Britain's High Court.
Peterson ran the Weavering Macro fund, which was found to
have more than $600 million in interest rate swaps where the
counterparty was a firm related to Weavering.