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Financial Crime News Briefs

Snapshots of money laundering, insider trading, financial fraud, sanctions evasion, regulations, and AI technology developments for educational purposes only.

Day: May 23, 2024

Written by FinCrimeMay 23, 2024

Bill Hwang’s ‘Margin Bot’ Explains How He Got Nickname

Reported by Anthony Lin Senior Legal Editor Here are the key takeaways from today’s testimony. Former Archegos risk management head Scott Becker took the stand for his third day as one of the prosecution’s star cooperating witnesses, and the defense got its first shot at cross-examining him. Read full report: https://www.bloomberg.com/news/live-blog/2024-05-22/archegos-trial-may-22

Written by FinCrimeMay 23, 2024

Archegos in ‘Frantic Confusion’ After Hwang Ran Out of Cash for Trades

Reported by Peter Jeffrey Legal Editor Here are the key takeaways from Tuesday’s testimony of former Archegos risk management chief Scott Becker. He’s one of the prosecution’s star witnesses against Hwang and Halligan and is expected to be on the stand for the rest of the week. Read full report: https://www.bloomberg.com/news/live-blog/2024-05-21/archegos-trial-may-21

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