Bill Hwang's Archegos Trial Begins, Testing Novel Market Manipulation Claims

The trial of former hedge fund manager Bill Hwang for alleged market manipulation could redefine legal boundaries for financial practices on Wall Street.

• 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.

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