Legal
Archegos’ Bill Hwang Makes Last Pitch to Jury Set to Decide His Fate
- Defense says case over family office collapse ‘makes no sense’
- Prosecutors dissect evidence from eight-week fraud trial
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Archegos Capital Management founder Bill Hwang’s lawyer made his final pitch to a jury poised to start deliberating his fate, arguing the US government’s fraud and market-manipulation case over the meltdown of the prolific investor’s family office “makes no sense.”
During an eight-week trial, Hwang was accused of being the mastermind of a scheme that ensnared half of Wall Street and cost banks $10 billion after he artificially jacked up stock prices. But in closing arguments Monday, his defense team said he was only an aggressive trader who invested in companies he truly believed in.