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Investors' anger as SFO drops probe into Weavering fund
David Marchant
Posted: Friday, September 9, 2011
Joined: 9/13/2007
Posts: 1278

You can always rely on the SFO to spend a lot of taxpayers' money going nowhere slowly.

See article in London Evening Standard

First two paragraphs are:

Investors including charities and pension funds who lost hundreds of millions of dollars in the collapse of London hedge fund Weavering Capital were today said to be furious at a decision by the Serious Fraud Office to drop its investigation into the affair.

Weavering's main Cayman Islands-based hedge fund collapsed into liquidation in March 2009, leaving its investors nursing losses of more than $500 million (£313 million).


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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
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As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.