DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Bill Hwang - 1 Hwang - 1 Damian Williams - 1 Archegos - 1 Goldman Sachs - 1 Jefferies - 1 Mitsubishi UFJ - 1 Morgan Stanley - 1
Top related locs:
Manhattan Macquarie Mizuho U.S Southern District Southern District of New York New York
Top related orgs:
YORK - 1 Archegos Capital Management - 1 UBS - 1 Credit Suisse - 1 Prosecutors - 1 Bank of Montreal - 1 Deutsche Bank - 1 Mitsubishi - 1

Search resuls for: "Hwang et"


5 mentions found


☆ Bill Hwang seeks to subpoena 10 banks, shift blame for Archegos collapse
  + stars: | 2023-07-27 | by ( Jonathan Stempel | Law Firm Clifford Chance Posts Increased Revenue | Stalled Profits | ) www.reuters.com   time to read: +2 min
NEW YORK, July 27 (Reuters) - Bill Hwang, the founder of Archegos Capital Management, on Thursday asked a judge to let him subpoena documents from 10 banks, in an effort to shift blame as he defends against criminal fraud charges that the firm's collapse was his fault. The office of U.S. Attorney Damian Williams, which is prosecuting Hwang, did not immediately respond to a request for comment. Other banks also lost money when Archegos collapsed, but less than Credit Suisse. That caused it to miss margin calls, and banks to dump stocks that had backed the swaps and which they had bought as hedges. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.
Persons: Bill Hwang, Hwang, Damian Williams, Archegos, Goldman Sachs, Jefferies, Mitsubishi UFJ, Morgan Stanley, Nomura, Alvin Hellerstein, Hwang et, Jonathan Stempel, Daniel Wallis Organizations: YORK, Archegos Capital Management, UBS, Credit Suisse, Prosecutors, Bank of Montreal, Deutsche Bank, Mitsubishi, Court, Southern District of, Thomson Locations: Manhattan, Macquarie, Mizuho, U.S, Southern District, Southern District of New York, New York
☆ Archegos founder Hwang must face fraud charges, US judge says
  + stars: | 2023-03-23 | by ( Jonathan Stempel | Industry Insight | Messaging Platform | ) www.reuters.com   time to read: +2 min
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.
☆ U.S. rejects Bill Hwang's sandbagging claim in Archegos prosecution
  + stars: | 2023-01-13 | by ( Jonathan Stempel | Industry Insight | Law Firm Pricing Professionals In | ) www.reuters.com   time to read: +2 min
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.
☆ 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.
☆ 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.
0 next >>
Total: 5