Weavering Hedge Fund: criminal charges
14 Rhagfyr, 2012 | Eitemau newyddion
Criminal proceedings have been issued on 11 December by the Serious Fraud Office against Magnus Peterson by written charge. The first hearing in his case will take place at Westminster Magistrates’ Court on 7 January 2013.
Ulf Magnus Michael Peterson (49), a Swedish national of Otham, Kent is the founding director of Weavering Capital (UK) Limited. He is charged with six offences:
- Two offences of false accounting contrary to s.17(b), Theft Act 1968
- One offence of fraudulent trading contrary to s.458, Companies Act 1985
- One offence of fraud by abuse of position contrary to s.4, Fraud Act 2006
- Two offences of forgery contrary to s.1 of the Forgery and Counterfeiting Act 1981
The alleged offences took place on various dates during 2003 to 2009.
Notes for editors:
1) The Serious Fraud Office assisted by the City of London Police conducted property searches and arrested two men in May 2009.
2) Weavering Capital (UK) Limited is an English incorporated investment management firm, which went into administration on 19 March 2009, whose primary function was to act as investment advisor to a Cayman Islands incorporated hedge fund, Weavering Macro Fixed Income Fund Limited (the “Macro Fund”). Liquidators were appointed over the Macro Fund on 19 March 2009. The Macro Fund was understood to have funds under management of around $639 million in late 2008.
3) As proceedings are now underway, the strict liability rule in the Contempt of Court Act 1981 now applies.