Arrests in hedge fund probe.(BRITISH VIRGIN I.)

0 Comments | Caribbean Update, July, 2009

The Serious Fraud Office London arrested two men in a probe into collapsed hedge fund Weavering Capital, which it said used swaps to artificially inflate its value, reports Reuters (May 20, 2009). The investigation is focused on the swaps, which "inflated the apparent net asset value of the Macro fund", and were between the fund and a company registered in the British Virgin Islands, Weavering Capital Fund Ltd, the SFO said.