October 14, 2014 / 12:27 PM / 6 years ago

Weavering hedge fund founder pleads not guilty in London fraud trial

LONDON, Oct 14 (Reuters) - The founder of one of London’s oldest hedge funds, whose $600 million Weavering business collapsed in 2009, formally pleaded not guilty to all 16 fraud-related charges in his trial at a London court on Tuesday.

Magnus Peterson, a Swedish-born hedge fund manager, faces allegations of fraudulent trading, fraud by misrepresentation, forgery, abuse of position, false representation, furnishing false information and obtaining a money transfer by deception between 2003 and 2009.

The high-profile trial began on Monday and is expected to last 12 weeks. (Reporting by Kirstin Ridley; Editing by David Goodman)

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