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USA v. HWANG

  1. June 03, 2024

    Archegos Bets Moved Stock Prices Like A 'Magnet,' Jury Told

    An economist on Monday told the Manhattan federal jury hearing charges that Archegos founder Bill Hwang perpetrated a $36 billion market distortion that his big-dollar market moves at the fallen hedge fund pulled share prices like a "magnet."

  2. May 29, 2024

    Archegos Jury Gets Glimpse At Founder's Earlier Legal Woes

    A banker told a Manhattan jury Wednesday that Archegos founder Bill Hwang's 2012 run-in with the law at his previous hedge fund was concerning, but details were largely kept from jurors hearing charges against Hwang over Archegos's $36 billion collapse.

  3. May 23, 2024

    Archegos Witness Admits Lying To Exec Charged In Collapse

    An Archegos manager who pled guilty to fraud and is cooperating with prosecutors conceded to a Manhattan federal jury Thursday that he fostered an effort to mock his former boss and hide information before the hedge fund's $36 billion collapse.

  4. May 22, 2024

    Archegos Exec Says Founder Didn't Direct Him To Lie

    The former director of risk management for Archegos told a Manhattan federal jury on Wednesday that the collapsed hedge fund's founder never instructed him to lie to banks in order to finance trading activity, as a defense lawyer sought to poke holes in the government's fraud case.

  5. May 20, 2024

    Archegos Lied To Banks To Obtain Credit Lines, Jury Told

    The former director of risk management at the fallen private capital fund Archegos told a Manhattan federal jury Monday that he lied to banks about the fund's portfolio to induce them to extend lines of credit at the direction of his former boss, Archegos Chief Financial Officer Patrick Halligan.

  6. May 15, 2024

    Archegos Ex-Accountant Tells Jury Of 'Vendetta' Inside Fund

    A key cooperating witness had a "personal vendetta" against a former Archegos executive charged in the government's $36 billion market distortion case, according to testimony Wednesday by an ex-accountant at the fallen fund.

  7. May 13, 2024

    Archegos Boss Blew $36B, But It Was His To Lose, Jury Told

    The founder of fallen hedge fund Archegos argued to a Manhattan federal jury Monday that charges of distorting markets and lying fall short because he believed in his $36 billion investment strategy but was upended by COVID-19 financial fallout.

  8. January 16, 2024

    Archegos Boss Gets Little Redress For Feds' Discovery Foul

    A New York federal judge on Tuesday refused to exclude a swath of trading data from the upcoming market manipulation trial of Archegos Capital Management founder Bill Hwang or to postpone the proceeding longer than a week, despite prosecutors' admissions that they inadvertently ran afoul of their discovery obligations by not disclosing the evidence until recently.

  9. January 09, 2024

    Archegos Prosecutors Accused Of Late Discovery Misconduct

    Former Archegos Capital Management CEO Bill Hwang and executive Patrick Halligan asked a Manhattan federal court to exclude a large trove of trading data from their upcoming trial, saying it was a "grave failure" for prosecutors to provide the data just weeks before a jury is due to hear the case.

  10. September 14, 2023

    Archegos Duo Can't Subpoena Fraud Victims, Feds Say

    Prosecutors asked a Manhattan federal judge to reject a request from former Archegos executives Bill Hwang and Patrick Halligan to subpoena financial firms allegedly victimized by a fraud scheme, saying the defendants hadn't explained how the requested information was relevant to the case.

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