Reported 7 months ago
Archegos Capital Management's boss, Sung Kook “Bill” Hwang, reportedly banned bathroom breaks for staff, shouted at them for stepping away during market manipulations, and faces trial for racketeering and fraud in New York. Former head trader William Tomita, who pleaded guilty in the case, mentioned that Hwang berated them for not trading stocks aggressively, particularly Viacom. Hwang, known for controlling significant shares secretly, was behind a $36 billion market manipulation scheme, affecting banks like Credit Suisse. Tomita testified Hwang also gloated about the success of fraudulent activities, celebrating stock rises as their team's doing.
Source: YAHOO