Summary
- The trial of Archegos founder Bill Hwang for alleged securities fraud and market manipulation opened in New York.
- The fund’s collapse in 2021 caused $10 billion in losses for Credit Suisse, Nomura, Morgan Stanley, and other financial institutions.
- Hwang and Patrick Halligan, CFO of Archegos, were arrested by the FBI in April 2022.
- Hwang and Halligan deny the charges and are on trial in Manhattan federal court.
