Seen on Bloomberg:
Peter Young, the former Morgan Grenfell Asset Management fund manager at the center of the U.K.'s biggest fund scandal, appeared in court again today, on charges of conspiracy to defraud, dressed as a woman he calls Elizabeth.

Young appeared at the City of London Magistrates Court dressed in a scarlet skirt and top. He wore a wig, pearls and lipstick, carried a black handbag and wore black high heels.

The fund manager, 40, was fired more than two years ago for trading violations that ultimately cost Morgan Grenfell's parent Deutsche Bank AG, 400 million pounds ($664 million) in fines and compensation. His case is one of the most watched in the securities industry.

Young and three co-defendants, who also appeared in court today, were again committed for trial at the Old Bailey, the U.K.'s highest criminal court. This trial was meant to start today. No new trial date has been set, and the four will be notified by the Serious Fraud Office when they have to appear in court.

During his first hearing at the City of London Magistrates Court, Young wore a beige skirt and sweater, a wig, lipstick and pumps, and carried a bright pink handbag.

He and co-defendants, Erik Langaker, one of the founders of stockbroker Fiba Nordic Securities, Jan Helge Johnsen, a colleague, and Stewart Armer, another former fund manager at Morgan Grenfell, were formally charged with conspiracy to defraud at a court hearing in November.

 

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