Prices at the Pumps - May 8, 2024 #saltwire #pricesatthepumps #gaspricesNEW YORK - Jury selection is expected to wrap up Thursday in the criminal racketeering trial of Sung Kook"Bill" Hwang over the 2021 collapse of his $36 billion fund Archegos Capital Management, setting the stage for opening statements and witness testimony next week.
Federal prosecutors accuse Hwang of using financial contracts known as total return swaps to secretly amass outsize stakes in multiple companies without actually holding their stock. Prosecutors claim Hwang and former Archegos Chief Financial Officer Patrick Halligan, who is also on trial, lied about their holdings to sustain their business relationship with global banks.
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Archegos boss Bill Hwang's trial to test unusual manipulation theoryExplore stories from Atlantic Canada.
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Archegos boss Bill Hwang's trial to test unusual manipulation theoryAttorneys for Sung Kook “Bill” Hwang are expected to argue that prosecutors are pushing a novel and nonsensical market manipulation theory when the criminal ...
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