When Markets Called at Archegos, the Bathroom Was Off Limits [BNN Bloomberg (Canada)]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: BNN Bloomberg
“Bill yelled at us,” former Archegos head trader William Tomita recalled on the witness stand Tuesday at Hwang's fraud trial. “He raised his voice, and he yelled at us that we can't just go to the bathroom.” In his second day of testimony as a star prosecution witness against Hwang, Tomita depicted his former boss as not just a market manipulator but a micromanager who oversaw every detail of trading at his family office and frequently berated his team. Tomita was closer to Hwang than anybody who has taken the stand, including the other cooperating witness, former risk chief Scott Becker. His testimony, which is expected to continue for several days, is key to connecting the Archegos founder to the government's charges of fraud, racketeering conspiracy and market manipulation. Prosecutor Matthew Podolsky on Tuesday walked Tomita through several allegedly manipulative trades. Tomita also offered testimony of how Hwang ran his traders. At the time, most of them were working from
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