Bill Hwang Wants to Cite Morgan Stanley Leaks as Secrecy Defense

Bill Hwang is pushing to bring up the probe of Morgan Stanley block-trading leaks in an attempt to bolster his defense.

Lawyers for Hwang have asked the judge to be allowed to question a Securities and Exchange Commission official about the agency’s investigation of Morgan Stanley. That probe was into information leaking in connection with the New York-based firm’s block-trading practices during the time it was a counterparty of Archegos.

Bill Hwang, left, and his lawyer Barry Berke

Photographer: Yuki Iwamura/Bloomberg

Prosecutors have relied on Carmen Taveras of the SEC as an expert witness as it tries to prove that Hwang engaged in market manipulation that helped catapult his wealth ...