Reported about 1 year ago
The criminal trial of Archegos Capital Management founder Bill Hwang has reached the jury deliberation stage in Manhattan federal court. Hwang, along with his deputy Patrick Halligan, is facing charges of market manipulation and fraud related to the collapse of their $36 billion private investment firm in 2021. Prosecutors allege that Hwang unlawfully inflated stock prices and misled banks about Archegos' holdings, causing significant losses for shareholders and banks. If convicted, they could face up to 20 years in prison on each charge.
Source: YAHOO