2021 Archegos Capital Management collapse caused billions in losses for Wall Street banks; founder Bill Hwang faces 11 fraud charges.
Archegos Capital Management founder Bill Hwang's fraud trial is nearing its end, with a federal prosecutor alleging that Hwang's "lies and manipulation" led to the firm's 2021 collapse, causing billions in losses for Wall Street banks. Hwang is charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering, and market manipulation, and faces up to life imprisonment if convicted on all counts.
July 08, 2024
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