Hwang trial exposes flaws in verbal information handling

Court shown discrepancies in audio and email records; Credit Suisse insider says “fair amount” of intel slipped through cracks

Bill Hwang, May 8, 2024
Bill Hwang arrives at Federal Court, Southern District of New York, on May 8, 2024
SOPA Images Limited/Alamy Stock Photo

A Manhattan Federal Court has heard how Archegos staff repeatedly lied to prime brokers about its equity holdings, but the misinformation didn’t stop at the door of the failed family office. The trial of founder Bill Hwang has exposed how vital information may have been lost or distorted in haphazard reporting of verbal conversations by lending banks.

During a cross-examination of former UBS risk manager Bryan Fairbanks last week, Hwang’s defence highlighted discrepancies between recorded audio

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