DIRS.INFO The most relevant business & tech news

☆ Archegos founder Bill Hwang found guilty in multibillion-dollar fraud trial
▼ + stars: | 2024-07-10 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +1 min

CNN —Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse of his investment firm wiped billions of dollars off financial markets and nearly brought down Wall Street. The jury delivered a speedy conviction, finding Hwang guilty on 10 of 11 criminal counts after beginning deliberations Tuesday afternoon. Archegos’ implosion cost shareholders $100 billion and banks $10 billion, the prosecutors argued. In a statement, the US Attorney’s office for the Southern District of New York said Hwang’s guilty verdict sends a message that market manipulation would be held accountable. “Hwang and Halligan were able to fraudulently inflate a $1.5 billion portfolio into a $36 billion portfolio,” the statement said.

Persons: Bill Hwang, Hwang, Hwang’s, Patrick Halligan, “ Hwang, Halligan, ” Hwang Organizations: CNN, Archegos Capital Management, Warner Bros, Southern, of Locations: of New York

☆ The fate of a single investor who nearly tanked the market is now in the hands of a New York jury
▼ + stars: | 2024-07-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —In lower Manhattan, a jury is now weighing a case against a little-known investor who made it big, lost everything, and briefly brought Wall Street to its knees. His positions were so large that when the stocks started falling, it had a seismic effect on the market. And on Tuesday, after a two-month trial in New York federal court, the case was handed over to a jury that will decide their fate. Before Archegos, market watchers knew unregulated family offices were a problem, and they knew that swaps going unreported was a problem. “Fifteen years after the global financial crash, we still have gross under-regulation of non-banks, and we have Wall Street megabanks engaged in high-risk activities that aren’t properly regulated,” Kelleher told me.

Persons: CNN Business ’, Bill Hwang, Wall, Bill Hwang’s, Hwang, Patrick Halligan, Halligan, Josh Naftalis, ”, Naftalis, Goldman Sachs, Morgan Stanley, Dennis Kelleher, Wang, there’s, megabanks, ” Kelleher, “ Organizations: CNN Business, New York CNN, Warner Bros, Prosecutors, Bloomberg, Southern, of, Pallas Partners Locations: New York, Manhattan, of New York

And they were everywhere, although, naturally, New York City was a magnet, as it has always been for L.G.B.T.Q.+ people looking for a place in which they can be themselves. New York City was where you lost your soul, and we wanted to be closer to the earth. I wore an eight-and-a-half-foot-tall Statue of Liberty costume to the Easter Parade in New York City, and Kirsten came along with me. By the time I turned 30, I’d been telling people I was older for years, because I’m not the type to bemoan the loss of my youth. Going to New York felt like this moment of emerging to a wider audience, and then I started to travel a lot.

Persons: André De Shields, Lady Bunny, Michael R, Jackson, Juliana Huxtable, Wong, J.D, Samson, Pat Oleszko, it’s, —, John Rechy, ”, Danez Smith, Trump, he’d, “, Jenna Lyons, Avram Finkelstein, Joe Mantello, …, Catherine Opie, you’re, Willie Norris, “ I’d, It’s, you’ve, ” — Mark Harris Read, De Shields, Justin French, Chuck Ashley, Anthony Cotsifas, William F, Robert O’Hara’s, Hermes, — Max Berlinger Jenna Lyons, Antonio Lopez, Jenna Lyons’s, Grace Jones ”, Juan Ramos, Antonio Lopez’s, Grace Jones, Tina Chow, Marisa Berenson, Pam Anderson, That’s, — Jason Chen Jayne County, Jayne County, Gus Stewart, Billy Idol, Wayne County, — M.B, Bill T, Jones, Arnie, Arnie Zane, Zane, Keith Haring, Lois Greenfield, Jack Mitchell, Peggy Jarrell Kaplan, Gertrude Stein, Alice B, we’d, Bill, Arnie ”, I’m, — Juan, Norris, Yael Malka, Tomas Abad, West, Black, I’d, — Colleen Hamilton B.D, New York’s Eugene, . Wong, David Henry Hwang’s, Richie, wasn’t, Wayne Barker, — John Wogan Edmund White, Edmund White, Horatio, Leonard Fink’s “, Barbara Confino, Leonard Fink, Joseph Rodriguez, Bleecker, You’d, Gosh, Michael Snyder Pat Oleszko, Chichi, Kirsten, who’d, she’d, — C.H, Brian Michael Smith, Gay, Smith, Kiki Ball, Josue Infante, Skyler Cruz, Jamison, — J.A.R, Agnes Denes’s “, Don Yowell, Finkelstein, Agnes Denes, Leslie Tonkonow, Don, Agnes Denes’s, JD Samson, Sia, Mark Hunter, Anthony Cotsifas I’d, Johanna Fateman, Tigre, Michael O’Neill, Obama, might’ve, — Kate Guadagnino Kristen Kish, Kish, Suzanne Kreiter, David Moir, Bravo, isn’t, — J.W, Stephen Spinella, Mantello, Joan Marcus, Photofest, Tony Kushner’s, Louis Ironson, Milton Glaser, he’s, David, Marshall Grant, Joe Pitt, Walter, Awards, Stephen, ” —, Freedia, Devon Hurst, Sissy Nobby, Barack Obama’s, Lyle Ashton Harris, Big, Bounce, ” — M.B, Thom Browne, Browne, Los Angeles’s Chateau Marmont, Malcolm Venville, Paul Fortune, Michèle Lamy —, — J.C, Catherine Opie’s “, Opie, Ian, Lehmann Maupin, Eileen Myles, Jenny Shimizu, I’ve, Nicole Acheampong Danez Smith, Juan Cordero, ” Womp, They’d, hookups, Who’s, We’ve, You’re, J.A.R, Linda Simpson, India, Little Louie Vega, who’s, — K.G, Alexander Chee, Alexander Chee’s, Marguerite Duras’s “, Jeongneung, King Jungjong, Eric McNatt, Chris Chee, — M.S, Sam Jay, Jay, Jonah, Kumail ”, hadn’t, K.G, Phillip Lim, Lim, Tourmaline, Sylvia Rivera, Luce Capco Lincoln, York’s, We’d, Marsha P, John Cameron Mitchell, Larry Kramer, Mitchell’s, Mitchell, Martha Swope, Billy Rose, Mark Tusk, ” Kramer’s, Larry, Ned Weeks, Ned, “ Hedwig, J.W, Joerg Lohse, Reena, there’s, Matt Bomer, Bomer, Simon Halls, Neal Caffrey, Tony Kushner, Terrence McNally —, — I’d, Hollywood, Wu Tsang, Neil Rasmus, Wildness, ’, Wildness ”, Roxane Gay, Mueller, Brandon Williams, Donna Gottschalk, Donna Gottschalk’s “, Duchess, Galerie Marcelle Alix, goddamn, Coco Romack Michael R, Aaron Kinney, Nova, “ I’m, Bob Damron’s, Sgt, Shirley, Waldorf, Harold’s, Jean ] Genet, Marcel, Proust Organizations: Pride, Stonewall, West, America’s, ACT UP, San, Playwrights Horizons, Odeon, New York’s TriBeCa, Electric, Getty, Police, Billy, New York Live Arts, Keith Haring Foundation, BAM Hamm, Liberation, Brooklyn Liberation, Brooklyn Museum, Fort, New York’s, New York’s Eugene O’Neill Theatre, Broadway, Equity, LGBT Community Center, Fulbright, Mudd, New, Bisexual, Transgender Community, Center, Transgender Community Center, “, Maxwell, Museum School, Farmers, Seattle, Boston Globe, Travel, New York Times, Rancho Mirage, Gay, Caesar’s, FEMA, Yale, York’s Webster Hall, Masters, Records, Pyramid, Work, ACT, Carpenters, Seymour, Edinburgh, Atlanta —, Ninja, Huntington, New York, Lesbian, Equal, Billy Rose Theatre Division, The New York Public Library, The New York Times, USA, Children’s Hospital of Los, MoMA, Whitney Biennial, University of Nebraska, Alamy, HarperCollins, of Engineering, Google, Division, Astor, Tilden Foundations, Pershing, University of Southern, Pershing Square Locations: New York, Berlin, “, America, San Francisco, Baltimore, New York’s, New York City, California, Atlanta, Europe, Wayne County, Dortmund, Germany, London, Amsterdam, Rotterdam, Rockland County, N.Y, ’, I’m, Brooklyn, West Dakota, Fort Greene, New, Leonard Fink’s “ Bars, Street, Rome, —, Aspen, Colo, Copenhagen, Danish, Peru, Los Angeles, Agnes Denes’s “ Wheatfield, Downtown Manhattan, North Moore, TriBeCa, Hoboken, N.J, Lower Manhattan, Manhattan, Boston, Williamsburg , Brooklyn, Vinnie’s, Bedford, Austin , Texas, Copley, Menton, Asian American, York, New Orleans, Houston, Los Angeles’s, L.A, Hong Kong, Seoul, Casa, Koreatown, Minneapolis, Grindr, East, India, Wigstock, Tompkins, Vershire, Chee, Iowa, Huntington Beach, Chelsea, Barneys, Madison, Miami, New York State, Washington, The, LA, Silver Lake, Missouri, Children’s Hospital of Los Angeles, Zurich, Central, American, Westlake, Los Angeles and New York, Lincoln, Alphabet City , New York, Lenox, United States, University of Southern California, Downtown Los Angeles

☆ 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

☆ Asian Cup: Son Heung-min’s dazzling extra-time free kick seals South Korea’s dramatic passage to semifinals
▼ + stars: | 2024-02-03 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —A dazzling extra-time free kick from talisman and captain Son Heung-min sealed a dramatic victory for South Korea in the Asian Cup quarterfinals against Australia, continuing its habit of nervy, sensational finishes in this tournament. And against Australia, South Korea was trailing 1-0 almost four minutes into stoppage time. “The most important thing is we get the result,” Son said afterwards, per the Asian Cup website. Son's goal sealed South Korea's place in the Asian Cup semifinals. Xia Bohan/VCG/Getty Images“It was another drama,” said South Korea manager Jürgen Klinsmann, according to the Asian Cup wesbite.

Persons: Son Heung, Cho Gue, Son, Hwang Hee, Matty Ryan, ” Son, Craig Goodwin, Jo Hyeon, Connor Metcalfe, Goodwin, Nathaniel Atkinson, Jo, Graham Arnold, Aidan O’Neill, Xia Bohan, ”, Jürgen Klinsmann, “ I’m, Jordan Organizations: CNN, South, Australia, Warriors, Tottenham, Kyodo, Socceroos, Taegeuk Locations: South Korea, Saudi Arabia, Australia

☆ Hwang In-tae: The South Korean referee making history officiating in the NBA
▼ + stars: | 2023-10-31 | by ( Ben Morse | Gawon Bae | ) edition.cnn.com time to read: +8 min

But Hwang In-tae, who is the first Asian staff referee in the NBA, wouldn’t have it any other way. Stephen Gosling/NBAE/Getty ImagesRoute to the topJust like unearthing a future NBA or WNBA star, there is a scouting group to find potential standout NBA referees. Hwang (right) and Shin (middle) before a game at the 2014 Incheon Asian Games with fellow FIBA referee Kim Cheong-soo (left). Courtesy Shin Gi-rokAnd Shin believes that Hwang’s rise will prove to be motivation for others in similar positions to him. “There are few new referees at the Korea Basketball Association right now saying that their goal is to become an NBA referee.

Persons: CNN — You’ve, Hwang, Shin Gi, ” Shin, Shin, ”, “, It’s, Hwang officiates, Stephen Gosling, nbaofficials.com, He’s, ” Hwang, Star Charles Barkley, ” Barkley, CNN’s Chris Wallace, They’re, Both Hwang, Kim Cheong Organizations: CNN, NBA, rok, Busan University of Foreign Studies, CNN Sport, America, Connecticut Sun, Washington Mystics, Korean Basketball League, Olympics, Summer, FIBA, International Basketball Federation, G League, G, WNBA, Washington Post, Star, “, Korean Basketball Association, Incheon, Games, Korea Basketball Association Locations: South Korea, Shin, North America, Spain, Incheon, Masan

☆ Cloning Scientist Hwang Woo-suk Gets a Second Chance. Should He? - The New York Times
▼ + stars: | 2023-06-21 | by ( David Cyranoski | ) www.nytimes.com time to read: +1 min

Science is known for rigorous self-policing by the research community, yet it can feel like scientific fraud is rampant. The story of Hwang Woo-suk, a South Korean scientist who gained notoriety for claiming to clone human embryos, provides clues. After leaving the field in disgrace, Dr. Hwang has landed in clover, and now spends his days cloning beauty show and racing camels for United Arab Emirates royalty. Dr. Hwang burst into the spotlight in 2004 when he reported success in making an embryonic human clone and deriving stem cells from it. This was the proof-of-principle for the once-hyped “therapeutic cloning” — in which patients’ own cells, from the skin or other tissue, could be used to create embryonic stem cells with their genetic signature, which could then be used to treat diseases.

Persons: Hwang Woo, suk, Hwang Organizations: South, United Arab, Netflix, YouTube Locations: South Korean, United Arab Emirates

Search resuls for: "Hwang’s"

7 mentions found