Hwang Defense Shows Cracks in Archegos' Alleged ‘Corrupt Core' [Yahoo! Finance Canada]
GameStop Corporation (GME)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Scott Becker, Archegos' former risk management head, has been on the stand since Monday but faced his first questioning by defense lawyers on Wednesday. Hwang's lawyer, Barry Berke, asked Becker if he believed former Archegos head trader William Tomita often took credit for his work. ADVERTISEMENT Wasn't Becker so angry about it at one point that he “wished upon Mr. Tomita some nasty and unspeakable act?” Berke asked. That question drew an objection, but Becker answered a different version of it. “I may have vented to my peers,” Becker said, though he said he didn't recall being angry. Tomita is expected to take the stand for the prosecution in the coming weeks. The apparent bad blood between the two could undermine the prosecution's depiction of a “corrupt core” at Archegos including Hwang, co-defendant Patrick Halligan, Tomita and Becker that conspired to mislead banks into fueling a massive bubble that burst in March 2021. The blowup obliterated
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