NEW YORK, May 7 — Attorneys for Sung Kook “Bill” Hwang are expected to argue that prosecutors are pushing a novel and nonsensical market manipulation theory when the...
Selangor FA says Faisal Halim needs further ops as acid attack left footballer with fourth-degree burns, speech and movement affected
Archegos, a US$36 billion family office which invested Hwang’s personal wealth, collapsed spectacularly in March 2021 after its highly leveraged bets on a small number of stocks via complex derivatives quickly soured. The trial, which begins with jury selection tomorrow, is expected to lift the lid on the inner workings of Wall Street and banks’ dealings with profitable but risky clients.“This case has generated particular attention on Wall Street because banks, including Credit Suisse, lost billions of dollars as a result of Hwang’s alleged scheme,” said Joshua Naftalis, a former prosecutor and now partner at law firm Pallas.
“You could definitely say the prosecutors are pushing the envelope here,” said Brian Klein, a former federal prosecutor who is now a partner at law firm Waymaker. He honed his stock-picking skills from 1996 to 2000 at Tiger Management, the late billionaire Julian Robertson’s pioneering hedge fund. In 2001, Hwang launched his own hedge fund business, Tiger Asia Management.
Sung Kook Bill Hwang US Court Stock Market Manipulation
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