Assistant US Attorney Andrew Thomas told jurors that Bill Hwang manipulated stocks and worked with co-defendant Patrick Halligan to lie to the banks with which they traded.
The 2021 collapse of Sung Kook “Bill” Hwang’s Archegos Capital Management was driven by “lies and manipulation,” a federal prosecutor told a Manhattan jury on Monday at his
“By 2021, the defendants’ lies and manipulation had ensnared nearly a dozen stocks and half of Wall Street in a $100 billion fraud, a fraud that came crashing down in a matter of days,” Thomas said. If convicted, they face maximum sentences of 20 years in prison on each charge, though any sentence would likely be much lower and would be imposed by the judge based on a range of factors.
Archegos Fraud Trials Wall Street
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