Why did Wall Street loan billions to alleged fraudster Bill Hwang?

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Bill Hwang secured billions of dollars in funding from major Wall Street banks with lies ranging from assurances he could quickly exit positions to claims he held large, easily tradeable stocks like Apple and Google , according to US authorities. The banks apparently took Hwang’s words at face value when they entered into leveraged derivatives…

Archegos Founder Bill Hwang Arrested for Fraud in US

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Bill Hwang, founder of collapsed family office Archegos Capital Management, has been arrested by US authorities and charged with racketeering, fraud and market manipulation. The indictment released on Wednesday accuses Hwang, 58, and former chief financial officer Patrick Halligan, 45, of using archegos as an “instrument of market manipulation and fraud” with “considerable consequences for…