By Matthew Russell Lee, Patreon Maxwell Book
BBC-Guardian UK - Honduras - ESPN NY Mag
SDNY COURTHOUSE, May 19 – 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.
Inner City Press went to the SDNY press conference to ask, What about Credit Suisse and Nomura and people in those banks? What about the massive family office loophope to the Investment Advisors Act of 1940? This has come up in the OneCoin fraud case, on which the Office used perjured testimony and now agrees to delay after delay.
Damian William referred obliquely to Hwang doing it in the dark, but otherwise the issue - which is addressed by a pending bill in Congress - did not come up. Nor did Lisa Monaco, present in New York for the presser, address it.
Later, release: SUNG KOOK (BILL) HWANG The defendant will be released today upon his own signature to $100 million personal recognizance bond, to be secured by $5 million in cash and 2 properties, and co-signed by two financially responsible individuals, including his wife. The defendant agrees to attest that he lost his passport and his wife will surrender her passport. Travel will be restricted to the SDNY, EDNY, District of Connecticut, and District of New Jersey. Mr. Hwang will be released today on his signature, with remaining conditions to be met by May 6.
Late on May 5, Hwang lawyer - who, full disclosure, Inner City Press knows - wrote in to seek to modify the condition about "the posting of two properties what would be forfeited should he violation the conditions of his release (one of which would be his primary residence at 26 Trafalgar Road, Tenafly NJ)." Other, different documents were submitted.
On March 18, the assigned District Judge Andrew L. Carter convened a conference in his courtroom in 40 Foley Square. Inner City Press went - but it was quickly over. Judge Carter recused himself, as Inner City Press first tweeted:
Now Judge Andrew L. Carter in US v. Hwang / Archegos case is recusing himself due to stock in, and wife worked for, JPMorgan Chase , involved enough in the charged fraud [song]
Hwang's lawyer Lawrence Lustberg, who Inner City Press knows (Press will not recuse) argues but Judge Carter says, Not to me. Adjourned.
Afterward Inner City Press gave its business card to Lustberg by the elevators, then took the stairs. Reemerging on the 9th floor to check for cases, Team Hwang had gotten off there. Strategizing...
Watch this site.
Co-defendant PATRICK HALLIGAN The defendant will be released today upon (i) $1,000,000 personal recognizance bond; (ii) co-signed by two financially responsible persons, one of them being his wife; (iii) travel restricted to EDNY and SDNY; (iv) regular pre-trial supervision; and (v) surrender of passport (which has occurred).
Meanwhile later - after re-up of book and talk to NYU Journalism School, here and here - in the SDNY Magistrate a defendant was detained until trial, charged as a felon in possession. We'll have more, much more, on this.
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