Hwang studied in the United States and went to work for Tiger Management, rising to form his own Tiger Asia Management. Photo: SPENCER PLATT / GETTY IMAGES NORTH AMERICA/Getty Images via AFPArchegos founder Bill Hwang will go on trial Monday for alleged securities fraud and market manipulation, prosecutors said, following the fund's spectacular 2021 implosion that cost large banks billions of dollars.
The 2021 collapse of the fund sent shock waves through financial markets and caused $10 billion in losses for Credit Suisse, Nomura, Morgan Stanley and other leading financial institutions.
Source: News Formal (newsformal.com)
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