| After SDNY
Indicted Hwang For Archegos $34B Fraud and
Recusal Case Is Reassigned
By Matthew
Russell Lee, Patreon Maxwell
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BBC-Guardian
UK - Honduras
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NY
Mag
SDNY COURTHOUSE,
May 23 – 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...
On May 23,
Hwang's case was reassigned to
Judge Alkin K. Hellerstein:
"NOTICE OF CASE REASSIGNMENT
as to Sung Kook (Bill) Hwang,
Patrick Halligan, to Judge
Alvin K. Hellerstein. Judge
Andrew L. Carter, Jr. no
longer assigned to the case."
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.
The case is US v.
Hwang, 22-cr-240 (Hellerstein)
***
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