UK Fraud Office Reopens Criminal Probe Of Weavering

Law360, New York (July 9, 2012, 1:10 PM EDT) -- Britain's Serious Fraud Office has reopened a criminal investigation of Weavering Capital (UK) Ltd. after a judge ordered the collapsed hedge fund's executives to pay $450 million for defrauding investors through sham interest rate swaps, the SFO said Friday.

SFO director David Green said in a brief statement that his office had reopened the probe, which was dropped in September because of a stated lack of evidence. Lawyers for Weavering’s British liquidators called for a new investigation after Judge Sonia Proudman of the High Court of...
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