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SFO hits hedgie Peterson with six criminal charges

by Sarah Miloudi on Dec 14, 2012 at 12:18

SFO hits hedgie Peterson with six criminal charges

Magnus Peterson has been hit with criminal charges by the Serious Fraud Office (SFO).

The hedge fund founding director will face his first hearing against six charges on January 7, when he will attend Westminster Magistrates’ Court.

Peterson, 49, a Swedish national of Otham, Kent is the founding director of Weavering Capital which went into administration in 2009.

Peterson is no stranger to dealings with the SFO, which came in for a barrage of criticism last year when it called time on a probe into $500 million of losses at the hedge fund, two years after it arrested Peterson in a dawn raid.

In a statement released today, the SFO said Peterson has now been charged with the following six offences:

  • Two of false accounting;
  • One of fraudulent trading;
  • One of fraud by abuse; and
  •  Two offences of forgery

The alleged offences took place on various dates during 2003 to 2009.

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