Reuters – Magnus Peterson, battling fraud charges after his $600 million Weavering hedge fund collapsed during the financial crisis, told a court on Friday he could not remember which investors he had warned about his fund’s use of complex financial instruments.
During a trial that has given a rare glimpse into the hedge fund industry before the credit crunch triggered greater regulation and supervision, Peterson said he told investors about the fund’s use of riskier derivatives “on occasions”, but said he could not recall which investors.
