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☆ Bill Hwang, Whose Firm Archegos Collapsed in 2021, Is About to Go on Trial
▼ + stars: | 2024-05-08 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Three years ago, a multibillion-dollar investment firm called Archegos Capital Management blew up with little warning, causing big losses for some Wall Street banks and leading to federal criminal charges against the firm’s founder, Bill Hwang. On Wednesday, Mr. Hwang, 60, who was charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation, is set to go on trial in Manhattan federal court. Federal prosecutors are seeking to secure a conviction in a major stock market manipulation case in which Mr. Hwang, whose legal name is Sung Kook Hwang, was one of the big financial losers. Archegos had managed money mainly for Mr. Hwang, his family and some of his employees, and much of his family’s wealth was wiped out when the firm collapsed in March 2021. Also on trial with Mr. Hwang is Patrick Halligan, the former chief financial officer of Archegos.

Persons: Bill Hwang, Hwang, Sung Kook Hwang, Archegos, Patrick Halligan Organizations: Archegos Capital Management, Authorities Locations: Manhattan, Wall

☆ Andrew Bialecki built Klaviyo into an email titan by breaking all the norms. Now he's taking it public as its largest shareholder.
▼ + stars: | 2023-09-01 | by ( Melia Russell | ) www.businessinsider.com time to read: +8 min

Andrew Bialecki is preparing to take Boston startup Klaviyo public eleven years after founding it. Bialecki, who cofounded the marketing tech company in 2012, owns more than a third of Klaviyo, according to the company's recent S-1 filing. In the last eleven years, the 37-year-old has quietly built the hottest Boston startup you've never heard of. For comparison, HubSpot's Brian Halligan and Toast's Chris Comparato reported salaries of roughly $240,000 before taking their Boston startups public. Bialecki has also sold few shares of Klaviyo in inside rounds, according to two people familiar with the company's financials.

Persons: Andrew Bialecki, Jason Lemkin, Peter Walker, Klaviyo, Yankee frugality, Barry Chin, Ed Hallen, Hallen, Bialecki, Alexa von, TJ Mahony, he's, Elias Torres, Bootstrapping, Jon Karlen, Karlen, Mahony, Alex Clayton, frugality, HubSpot's Brian Halligan, Toast's Chris Comparato Organizations: Boston Globe, Getty, MIT's Sloan School of Management, Capital, Harvard University, Predictive Technologies, Fortune, Red Sox, Meritech Capital, Boston, Black, Patriots Locations: Boston, Coast, Bialecki, Washington, DC, Klaviyo, Braze, Miami

Jim Trusty, a former U.S. Justice Department official, filed a notice in Florida federal court asking a judge for approval to withdraw from the CNN case. A spokesperson for Trump thanked Trusty for his work on the case and said the lawsuit is "entering a new phase." Two other lawyers who were already representing Trump in other matters, Todd Blanche and Chris Kise, have now taken the lead in Trump’s defense in the documents case. CNN has asked a judge to dismiss the lawsuit, calling it an attempt to silence criticism of the former president. Lindsey Halligan, who has also worked on the documents investigation, will continue to represent Trump, Trusty said.

Persons: Donald Trump, Jim, Trump, Jack Smith, John Rowley, Todd Blanche, Chris Kise, Lindsey Halligan Organizations: CNN, U.S . Justice Department, Trump, Thomson Locations: U.S, Florida, Lago, Washington

☆ Trump lawyer who quit classified documents case withdraws from $475 million CNN defamation suit
▼ + stars: | 2023-06-16 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

An attorney who quit the team defending Donald Trump in the criminal classified documents case said Friday he would no longer represent the former president in a separate defamation lawsuit against CNN. The lawyer, Jim Trusty, said in a court filing that his request to withdraw from the $475 million civil suit "is based upon irreconcilable differences" with Trump. Lindsey Halligan, Trump's remaining attorney in the defamation case, referred CNBC to the former president's spokesman Steven Cheung, who said that the defamation suit is "entering a new phase as more irrefutable facts are revealed." They bear little resemblance to Trump's civil defamation suit against CNN, which was filed in October. The outlet noted that Trump's lawsuit hinges on just five CNN pieces.

Persons: James, Donald Trump, Jim, Lindsey Halligan, Trump's, Steven Cheung, Cheung, John Rowley, Rowley, Trump, Jack Smith, Adolf Hitler, Joe Biden's, Mein, Hitler Organizations: CNN, Trump, CNBC, Capitol, Department of Justice, Republican Locations: Washington ,, Fort Lauderdale , Florida, Miami

But his defense team is still evolving after at least three key members left in recent weeks. Trump has also sought to add a Florida-based criminal defense lawyer to his team in the days since his indictment, according to sources familiar with the conversations. Kise, a former Florida solicitor general who has primarily handled civil cases, was brought on to Trump’s team last year after the FBI seized classified documents kept at Trump's Mar-a-Lago estate. Trump has struggled in recent weeks to bolster his defense team as the documents investigation intensified. The day the indictment was unsealed, the pair abruptly announced their resignation from Trump’s legal team.

Persons: Donald Trump, Todd Blanche, Chris Kise, Jim, John Rowley –, Blanche, Kise, Trump, Lindsey Halligan, Rowley, Evan Corcoran, Halligan, Tim Parlatore, Boris Epshteyn, Parlatore, Epshteyn, Trump’s, Andrew Goudsward, Sarah N, Lynch, Jacqueline Thomsen, Karen Freifeld, David Bario, Alistair Bell Organizations: Trump, FBI, Trump's, New, Reuters, U.S . Justice Department, CNN, Epshteyn, Thomson Locations: Miami, Florida, Lago, New York, Manhattan, Epshteyn, Washington

☆ Trump lawyers visit U.S. Justice Department amid documents probe
▼ + stars: | 2023-06-05 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +3 min

WASHINGTON, June 5 (Reuters) - Three lawyers for former President Donald Trump left the U.S. Department of Justice Monday amid reports that federal prosecutors are wrapping up an investigation into whether he mishandled classified documents. The three lawyers - Lindsey Halligan, John Rowley and James Trusty - declined to answer questions as they left the building in Washington. It was not immediately clear what any potential meeting between the lawyers and the department may mean for Trump. Lawyers typically meet with Justice Department representatives before an indictment is handed down. Trump's lawyers last month sent the department a letter asking for a meeting with U.S. Attorney General Merrick Garland.

Persons: Donald Trump, Lindsey Halligan, John Rowley, James, Trump, General Merrick Garland ., Garland, Jack Smith, Mike Pence, Department's, Sarah N, Lynch, Susan Heavey, Jacqueline Thomsen, Nathan Layne, Andy Sullivan, Howard Goller Organizations: U.S . Department of, Justice Department, White House, Trump, Lawyers, U.S, Department of Justice, Media, Capitol, White, Thomson Locations: Washington, Manhattan, Indiana, Georgia

☆ Trump lawyers meet with DOJ after ex-president slams indictment speculation
▼ + stars: | 2023-06-05 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald J. Trump visits the driving range, meets fans and watches Round 2 of LIV Golf Washington DC 2023 at Trump National Golf Club Washington DC in Sterling, Virginia, United States on May 27, 2023. NBC News confirmed Trump lawyers on Monday met with officials at the DOJ headquarters in Washington, D.C., after CBS News tweeted a photo of three attorneys walking in to the building. The lawyers, John Rowley, James Trusty and Lindsey Halligan, left the DOJ shortly before noon ET, but declined to comment, NBC reported. Lawyers for Donald Trump met Monday morning with Department of Justice officials, a day after the former president noted speculation that special counsel Jack Smith is moving closer to seeking an indictment of him. Trump has pleaded not guilty in that case, which is scheduled to go to trial next March, in the middle of the presidential primary season.

Persons: Donald J, Trump, General Merrick Garland, Lisa Monaco, John Rowley, James, Lindsey Halligan, Donald Trump, Jack Smith, Smith, Joe Biden, Biden, Michael Cohen Organizations: U.S, LIV Golf, Trump National Golf Club Washington DC, NBC, NBC News, Monday, DOJ, Washington , D.C, CBS News, of Justice, White, National Archives, Records Administration, Marxist, FBI, Electoral, Georgia, Electoral College Locations: LIV Golf Washington, Sterling , Virginia, United States, Washington ,, Florida, Washington, Atlanta, Georgia, New York City

Rowan Wilson, an associate judge on the Court of Appeals, was named as chief judge of the same court, overseeing the state's sprawling state judicial system. If confirmed, Wilson would be the first Black judge in the post, replacing Janet DiFiore who stepped down in August. "Judge Wilson's sterling record of upholding justice and fairness makes him well-suited to lead the court at this critical time," Hochul said in a statement. Hochul nominated Caitlin Halligan, a former New York solicitor general and current partner at law firm Selendy Gay Elsberg, to fill Wilson's current role. Wilson was nominated to the Court of Appeals by former New York Governor Andrew Cuomo, a Democrat, in 2017.

NEW YORK, March 23 (Reuters) - A U.S. judge on Thursday denied Archegos Capital Management LP founder Bill Hwang's effort to dismiss an indictment accusing him of fraud in the collapse of his once-$36 billion firm. U.S. District Judge Alvin Hellerstein in Manhattan rejected arguments that the 11-count indictment should be tossed because prosecutors deceived Hwang into cooperating with their probe and because Hwang's trading activity had been lawful. Authorities said Hwang concealed the size and riskiness of his bets by spreading his borrowing among several banks. When the prices of some stocks fell, Hwang was unable to meet margin calls, leading banks to dump stocks backing his swaps, and causing losses for Archegos and others. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

NEW YORK, Jan 13 (Reuters) - The U.S. Department of Justice forcefully rejected Bill Hwang's claim that it sandbagged him by concealing its plan to charge him with fraud over the collapse of his $36 billion Archegos Capital Management LP. In a Thursday night filing in Manhattan federal court, prosecutors said there was no basis to grant Hwang's motion to dismiss his indictment because of prosecutorial misconduct prior to his April 27, 2022, arrest. "Hwang's motion is predicated on a series of inflammatory claims about the government's conduct that are entirely baseless," prosecutors said. Archegos collapsed in March 2021 after failing to meet margin calls following trades through so-called total return swaps. In a separate Thursday night filing, prosecutors rejected the defendants' claims that they committed no crimes because Archegos' trading was legal.

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Archegos' Bill Hwang says prosecutor misconduct justifies indictment's dismissal
▼ + stars: | 2022-12-03 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

NEW YORK, Dec 3 (Reuters) - Bill Hwang is seeking the dismissal of his U.S. fraud indictment over the collapse of his once-$36 billion Archegos Capital Management LP, saying prosecutors committed misconduct by sandbagging him when building their case. In a separate filing, Hwang and co-defendant Patrick Halligan, Archegos' former chief financial officer, said their indictment should be dismissed because Archegos' trading activity was "entirely lawful," using methods that are "clearly permitted by the existing regulatory structure." These discussions, the last occurring two days before Hwang's April 27 arrest, "revealed what has now become (as prosecutors doubtless knew it would) his defense strategy," Hwang's lawyers said. Hwang also wants U.S. District Judge Alvin Hellerstein, who oversees the case, to hold a hearing to determine the extent of any taint. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

☆ Trump Lawyers Attend Court Hearing as DOJ Presses Aides in Mar-a-Lago Probe
▼ + stars: | 2022-10-28 | by ( Sadie Gurman | Aruna Viswanatha | ) www.wsj.com time to read: 1 min

FBI agents in August removed more than 11,000 documents from Donald Trump's Mar-a-Lago resort in Florida. WASHINGTON—Donald Trump’s lawyers appeared in federal court for a closed-door proceeding Thursday, as prosecutors press for the return of what they believe to be more government documents in the former president’s possession and step up efforts to interview people close to him, according to people familiar with the matter. The lawyers, Jim Trusty, Evan Corcoran and Lindsey Halligan, declined to comment as they left the courthouse in Washington.

☆ Bill Hwang, Archegos demand end to SEC lawsuit over $36 bln firm's collapse
▼ + stars: | 2022-10-25 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In court filings, Hwang and Archegos said the SEC failed to show how the New York-based firm traded deceptively or how its swaps trades, which they called "lawful," affected prices. "The SEC declares unlawful a number of practices that have long been accepted as entirely legitimate and commonplace in the market," Hwang said. Archegos imploded when it failed to meet margin calls after being caught short on trades through so-called total return swaps. Hwang and former Archegos Chief Financial Officer Patrick Halligan have pleaded not guilty to Department of Justice fraud and racketeering conspiracy charges over the collapse. The case is SEC v Hwang et al, U.S. District Court, Southern District of New York, No.

☆ Trump's legal team is trying to avoid turning over information about whether or not the documents found at Mar-A-Lago were declassified
▼ + stars: | 2022-09-20 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Dearie asked Trump's team to hand over specific information about files he claims he declassified. Dearie is asking that Trump's team hand over specific information regarding whether files were declassified or not. In a September 19 filing, Trump's team appealed Dearie's request in order to avoid revealing details about the top-secret materials. Dearie has until November 30 to finish reviewing the documents seized by the FBI. He was appointed, upon Trump's request, as a third-party neutral investigator in Trump's legal tussle with the FBI over documents seized in the agency's raid of Mar-a-Lago.

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