Bill Hwang, founder of Archegos Capital, faces a criminal trial for alleged market manipulation, racketeering, and fraud, linked to $5.5bn in losses for Credit Suisse in 2021.
Bill Hwang, founder of Archegos Capital Management, faces a criminal trial over alleged market manipulation, racketeering, and fraud, as his firm's collapse in 2021 led to billions of dollars in losses for global banks, including $5.5bn at Credit Suisse. Prosecutors accuse Hwang of misleading banks to inflate the value of Archegos' holdings and conceal large derivative positions, leading to its downfall. Hwang denies all charges and maintains his innocence.
May 07, 2024
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