Hedge fund boss found guilty in $600 million fraud
Magnus Peterson, the boss of collapsed hedge fund business Weavering, has been found guilty of defrauding investors and ordered to pay hundreds of millions of dollars in damages.
This came just days after a Cayman Islands civil court awarded damages of $111 million against two of Weavering's fund directors, Stefan Peterson and Hans Ekstrom -- Magnus Peterson's younger brother and stepfather respectively.
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