SFO - Serious Fraud Office

Weavering Capital UK

23 February 2012
 

Background

Weavering Capital (UK) Ltd went into administration in March 2009. The company was advisor to a Cayman Islands incorporated hedge fund called Weavering Macro Fixed Income Fund Ltd which had funds of US$639 million under management in 2008. The investigation concerns interest rate swap transactions between the fund and a related Weavering company in the British Virgin Islands which had the effect of inflating the net asset value of the fund.

Updates

Update as at 8 May  2013

The first crown court hearing took place on 7 May 2013 at Southwark Crown Court.

A provisional trial date was set for October 2014.

Update as at 11 April 2013

The case was formally transferred from Westminster Magistrates' Court to the Crown Court at Southwark on 1 April 2013.

The first crown court hearing will take place on 7 May 2013.

Update as at 14 December 2012

Criminal proceedings have been issued on 11 December by the Serious Fraud Office against Magnus Peterson by written charge. The first hearing in his case will take place at Westminster Magistrates' Court on 7 January 2013.  For further information please see the charging press release of 14 December 2012.

Update as at 6 July 2012

Following a review of the High Court Civil Judgment by Mrs. Justice Proudman on 31 May 2012, the Director has reopened a criminal investigation into Weavering Capital UK.