Archegos Judge Backs Out Over JPMorgan Stock Holdings

By Pete Brush (May 19, 2022, 4:55 PM EDT) -- Manhattan U.S. District Judge Andrew L. Carter Jr. on Thursday told Archegos founder Sung Kook "Bill" Hwang that he cannot preside over charges that Hwang engaged in a major fraud on Wall Street, disclosing that he holds shares of purported victim bank JPMorgan Chase.

With Hwang and co-defendant Patrick Halligan — the chief financial officer of Archegos — looking on, Judge Carter was quick to drop the case at an afternoon status conference.

"It seems to me that I need to recuse," Judge Carter said. "I own stock in JPMorgan Chase."

Judge Carter also noted that his wife, attorney Lisa Stephenson,...

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