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Bill Hwang’s First Week on Trial Over Archegos
Archegos Capital Management returned to the spotlight three years after its spectacular collapse with the start of founder Bill Hwang’s trial on fraud, racketeering and market manipulation charges. The trial kicked off Monday in Manhattan federal court with opening statements and continued through Thursday with testimony from several witnesses who experienced Archegos’ frantic final days in March 2021, an implosion that wiped out Hwang’s $36 billion fortune and cost some of Wall Street’s biggest names roughly $10 billion. Hwang’s trial is expected to last about two months. Here are the key takeaways from ... (full story)