Victory for the Serious Fraud Office (SFO) follows years of work, the dropping of the case by the SFO, the start of a civil case for US$450 by liquidators of the failed hedge fund, threats to sue the SFO if it did not re-open the case and then the decision by the SFO to open the file once more. 

Investor resolve

Barnaby Stueck, a Jones Day lawyer who advised one of the investors, said: 'This is an example of private-public co-operation. There is no way we’d be at this point were it not for the resolve of the investors, who threw money back in the pot to pursue Mr Peterson in civil proceedings. In these complex fraud cases, unless the investors commit to the process, commit to giving evidence, and do some of the hard forensic investigation, it’s much less likely that they’ll get to trial.' White collar departments have been seeing a period of substantial growth in many law firms. Source: Financial Times