The Serious Fraud Office (SFO) has issued criminal proceedings against Magnus Peterson, a Swedish national and the founding director of Weavering Capital (UK) Limited.
He has been 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.
Weavering Capital (UK) Limited is an English incorporated investment management firm, which went into administration on 19 March 2009. Its 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 USD639 million in late 2008.