Overview
- Prosecutors claim Bill Hwang and Archegos Capital Management misled banks to inflate stock values, causing over $100 billion in losses.
- Defense argues the stock purchases were legitimate, challenging the untested theory of open market manipulation.
- The collapse of Archegos in 2021 resulted in significant losses for major banks, notably a $5.5 billion hit for Credit Suisse.
- Legal experts suggest the complexity of the case and sophisticated nature of the alleged victims could complicate prosecutorial efforts.
- Hwang's trial, drawing on his background and previous legal issues, is expected to last eight weeks with numerous high-profile witnesses.