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Hedge fund trial to raise pressure on UK fraud prosecutor

Reuters – Britain’s top fraud prosecutor is likely to face serious criticism over its handling of an investigation into the $600 million collapse of one of London’s oldest hedge funds, a judge said on Tuesday.

Already smarting from a 300 million pound ($466 million) damages claim after a botched investigation into the Tchenguiz property moguls, the office is under pressure from politicians who say it has not done enough to bring bankers and other financial industry figures to book since the 2008 crisis.

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