Magnus Peterson: The charismatic Swedish trader now facing years behind bars

Investors lost millions when Magnus Peterson's sham hedge fund spectacularly blew up. Now, after nearly getting away, they have justice.

The 2008 credit crunch sparked a surge of hedge fund collapses and huge losses for investors. And yet no individual had ever taken the rap for them.

That's changed, says Reuters, with the conviction on fraud charges of Magnus Peterson a "charismatic" Swedish-born former forex and interest-rate trader, who pitched his London-based fund, Weavering Macro Fund, as "a low-risk investment offering stable returns".

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