Politics & Regulation Tax & Legal

SFO re-opens Weavering inquiry after court judgement


The UK’s Serious Fraud Office (SFO) has re-opened its criminal investigation into the collapse of London-based hedge fund firm Weavering Capital in the wake of a damning recent UK court judgment against founder Magnus Peterson and his colleagues.

The SFO dropped its original probe into Peterson’s defunct firm in September 2011, since which Weavering’s liquidators – represented by law firm Jones Day – have won a High Court civil judgement against Peterson and other Weavering directors.

The SFO’s decision to close its investigation after two and a half years – which was greeted with disbelief in the hedge fund industry