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SDNY
Trial of Hwang For
Archegos $34
Billion Meltdown
Postponed to May 6
By Matthew
Russell Lee, Patreon Substack
SDNY COURTHOUSE,
Jan 22 – In the wake of
the Archegos meltdown, the
other shoe dropped on April
27, when the US Attorney for
the SDNY unsealed and
indictment charging Bill Hwang
Patrick Halligan, Archegos’s
CFO with racketeering
conspiracy, securities fraud,
and wire fraud
offenses.
On June 1, newly
assigned District Judge Alvin
K. Hellerstein held a
conference in the case. Inner
City Press attended and live
tweet it here
(and asked defense counsel a
question later, here
Jump cut to
November 14, 2023 when Judge
Hellerstein held an oral
argument on the subpoena
requests. Inner City Press
attended, in mask, and
tweeted, threadette
On January 3,
2024, still mostly masked,
Judge Hellerstein said the
proposed experts are
qualified, that sufficient
notice is the issue. He said
he will follow Judge Jed
Rakoff's decision in US v.
Mrabet, which Inner City Press
also covered. At the end
Judge Hellerstein said, with a
laugh, Don't settle this case,
I want to try it.
On January 8
Hwang's counsel filed a motion
to exclude 16 gigabytes of
trading data they say should
have been produced to them 17
months ago - and email notes
of previous counsel's
communications with the
prosecutors, on Patreon here.
On January 22,
Judge Hellerstein pushed the
trial back to May 6: "ORDER as
to Sung Kook (Bill) Hwang,
Patrick Halligan. The start of
trial in the above-captioned
case is adjourned to May 6,
2024 at 10:00 a.m. The final
pre-trial conference is
adjourned to April 16, 2024 at
2:30 p.m. The parties shall
submit a reworked calendar of
dates for pre-trial motions
and hearings to the Court in
accordance with this new
timeline. Additionally, the
conference set for January 23,
2024 is adjourned to February
7, 2024 at 11:00 a.m. In the
interest of justice, time is
excluded until the start of
trial. The Defendants' motion
for a jury questionnaire, ECF
No. 129, is denied."
More details on
Substack here
***
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