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Bloomberg Daybreak: Asia Edition
Archegos Founder Bill Hwang Convicted, Powell Testimony Wraps
Jul 11, 2024
Legal reporter discusses Archegos founder Bill Hwang's fraud conviction. CIO talks earnings and Powell's testimony. Insights on market trends and US-China competition shared. Tech editor updates on Apple, Samsung, and TSMC rivalry.
28:00
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Quick takeaways
- Founder Bill Hwang convicted of fraud and market manipulation after Archegos collapse.
- Maybank CIO highlights earnings growth opportunities beyond tech, emphasizing sector diversification.
Deep dives
Criminal Charges Against CAGOS Capital Management Founder
Founder Bill Huang of CAGOS Capital Management was found guilty of criminal charges related to the 2021 collapse of the firm. Testimony revealed a pattern of manipulating stocks and options to inflate their value. Witnesses from counterparties like Credit Suisse and UBS Group detailed how Huang and his CFO leveraged credit to artificially boost stock valuations, impacting financial markets and leading to increased regulatory scrutiny.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode