Sunday, 26 April 2015
Last updated 2 days ago
May 8 2013 | 8:46am ET
The founder of collapsed hedge fund Weavering Capital will go on trial for fraud in a year-and-a-half—but not before the U.K.'s Serious Fraud Office faces a trial of its own.
A British judge set a provisional trial date for Magnus Peterson for October 2014. He also schedule an abuse of process hearing for Nov. 8 of this year, a hearing at which he said the SFO would face "quite serious criticism" in the trial.
At question is the SFO's decision in 2011 to drop its probe into Weavering after two-and-a-half years. Peterson was only charged criminally in the US$600 million scam after a London court ruled that he had misled clients and fined him US$450 million.
Weavering collapsed in 2009 when it failed to meet redemptions and it was found that the firm's assets consisted of only a single swap agreement with a company controlled by the hedge fund itself.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…