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Bill Hwang allegedly told banks and brokerages lies that inflated the stock price of publicly traded companies — in order for his private investment firm to...
Bill Hwang, owner of Archegos Capital Management, and former chief financial officer Patrick Halligan were arrested and charged with racketeering conspiracy, securities fraud, and wire fraud.
<p><span>The Securities and Exchange Commission today charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also charged Archegos’s Chief Financial Officer, Patrick Halligan; head trader, William Tomita; and Chief Risk Officer, Scott Becker for their roles in the fraudulent scheme.</span></p>
The collapse of Archegos – Bill Hwang’s family office that was virtually unknown even on Wall Street – exposed gaping holes in how major banks manage risk.
Founder of Archegos Capital Management, Bill Hwang, was arrested on April 27 after being indicted on charges of ...