Archegos founder goes on trial for fraud, market manipulation

NEW YORK - The trial of Archegos founder Bill Hwang for alleged securities fraud and market manipulation opened in New York on Monday, and focused on the fund's spectacular 2021 implosion that cost large banks billions of dollars.

The family-owned hedge fund run by Hwang had taken huge bets on a few stocks with money borrowed from banks, and when several of those bets turned sour, the fund was unable to meet 'mar