1min snip

Behind the Money cover image

Was the Archegos implosion illegal?

Behind the Money

NOTE

Legal Techniques Turned Crime

The prosecutors charged Bill Wong with market manipulation and bank fraud, stating that his legal trades, when combined, became illegal. Although his individual transactions were not fraudulent, the aim behind them was to artificially inflate stock prices, which resulted in market manipulation. Prosecutors viewed Wong's actions as cleverly using legal techniques in succession to commit a crime.

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