Independent – The boss of collapsed UK hedge fund Weavering could be jailed for up to 10 years after being found guilty of fraud by a London court yesterday, giving the Serious Fraud Office (SFO) one of its most senior financial scalps since the credit crunch.
Magnus Peterson (51) was found guilty of eight counts of fraud, forgery, false accounting and fraudulent trading after a 12-week trial that tested the jury’s grasp of financial markets. The fraud over a six-year period cost investors $536m ($460m). Mr Peterson has been remanded in custody and will be sentenced on January 23, the SFO said in a statement.
