- Reuters
Bill Hwang's trial begins over collapse of his $36 billion Archegos fund
Sung Kook "Bill" Hwang's criminal racketeering trial over the collapse of Archegos Capital Management begins on Wednesday with the selection of jurors who will decide if he and a deputy broke the law in a massive stock scheme that unraveled in just days in 2021. The trial in Manhattan federal court is expected to last up to eight weeks and will delve into the implosion of Hwang's lightly regulated family investment office, which prosecutors allege caused more than $100 billion in shareholder losses at companies in its portfolio. Federal prosecutors accuse Hwang of using derivatives to secretly amass positions in multiple stocks that were so large they eclipsed that of the companies' largest investors, driving up stock prices.
- Reuters
Five takeaways from Stormy Daniels’ testimony at Donald Trump’s trial
Stormy Daniels took the witness stand on Tuesday at Donald Trump’s criminal trial and described in lurid detail her alleged 2006 sexual encounter with the former U.S. president. Trump has pleaded not guilty to Manhattan prosecutors’ charges he falsified business records to cover up his former lawyer’s $130,000 payment to Daniels, whose real name is Stephanie Clifford, for her silence before the 2016 election. Daniels appeared at ease in recounting for the jury her story of a sexual encounter with Trump in a Lake Tahoe hotel room in 2006.
- Reuters
Civil rights leader Daisy Bates to be honored with statue at US Capitol
The late U.S. civil rights leader and journalist Daisy Bates, who was instrumental in desegregating Arkansas public schools in the 1950s, will be honored on Wednesday when a statue of her is unveiled at the U.S. Capitol. The bronze statue depicts Bates, who died in 1999 at the age of 84, with a newspaper in one hand and a notebook and pen in the other. It will be joined later this year by another Arkansas entry, honoring the late singer Johnny Cash, according to the office of House of Representatives Speaker Mike Johnson.
