A U.S. judge on Thursday denied Archegos Capital Management LP founder Bill Hwang's effort to dismiss an indictment accusing him of fraud in the collapse of his once-$36 billion firm.
as the mastermind of a vast market manipulation scheme, and induced him during several interviews and meetings over six months to divulge his defense strategy.
But the judge said prosecutorial misconduct could justify a dismissal only if it substantially influenced the grand jury's decision to indict, or there was "grave doubt" that there was no such influence.that prosecutors were free to change their minds in the course of a probe. Hellerstein also rejected a dismissal request by Hwang's co-defendant, former Archegos chief financial officer Patrick Halligan.Archegos collapsed in March 2021, causing billions of dollars in losses for banks such as Credit Suisse Group AG
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