The Independent – Magnus Peterson, the head of the collapsed hedge fund business Weavering, has been found in the High Court to have defrauded investors and ordered to pay hundreds of millions of dollars in damages.
Mrs Justice Proudman ruled that Peterson, manager of the Weavering Macro Fixed Income fund, deceived clients and breached his duty of care to investors with a strategy that could not cope with the vagaries of markets at the height of the global credit crisis.
