(Bloomberg) -- Archegos Capital Management founder Bill Hwang returned to a New York courtroom as jury selection began in the criminal trial over the epic 2021 collapse of his family office.

Hwang and his co-defendant, former Archegos Chief Financial Officer Patrick Halligan, were both present Wednesday morning as prospective jurors filed into US District Judge Alvin Hellerstein’s courtroom. 

According to prosecutors, Hwang, 60, and Halligan, 47, misled several of Wall Street’s biggest banks into inflating the share price of several stocks on which Archegos had placed derivative bets. The trading activity Hwang allegedly orchestrated fueled a massive bubble that eventually burst, causing the banks to lose some $10 billion.

The two men face up to 20 years in prison on each of the counts against them, which include racketeering and fraud. Hwang also faces several charges of market manipulation.

As is typical in federal court, the judge rather than lawyers will question the jurors about their ability to serve. Hellerstein will seek to empanel a dozen jurors and six alternates. 

Opening statements are scheduled for Monday, and the trial is expected to last six to eight weeks.

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