Bloomberg Bill Hwang and Patrick Halligan appeared in court with US prosecutors to sort out the schedule for what the government said it expects to be a one to two-month trial over the implosion of Archegos Capital Management.
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The 3 p.m. meeting Thursday in Lower Manhattan was the first and last meeting in front of US District Judge Andrew L. Carter Jr., who said he is recusing himself from the case.
Hwang was arrested April 27 and charged with fraud over the collapse of Archegos, his family office that held market positions valued at $160 billion at one point, according to prosecutors. Hwang and Halligan, the chief financial officer at Archegos, have pleaded not guilty and face decades in prison if convicted.
The fall of Archegos cost banks $10 billion and exposed huge problems in how risk is managed.
Tomita and Becker pleaded guilty to a crime and are cooperating with the government in hopes of leniency when they are sentenced.
The case is US v. Hwang, 22 cr 00240, U.S. District Court, Southern District of New York Manhattan None Used Cars Become an Expensive Problem for Online Dealers Like Carvana
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