Archegos owner, former exec charged with securities fraud
Archegos Capital owner Bill Hwang and former finance chief Patrick Halligan were arrested by federal agents Wednesday on charges of racketeering conspiracy, securities fraud and wire fraud in connection with an alleged scheme to manipulate stock prices using leverage. In one year's time, Archegos' portfolio soared from $1.5 billion to $35 billion before imploding in dramatic fashion in March 2021, causing damage throughout the financial system.
Full Story: Reuters (4/27),The Wall Street Journal (4/27),CNBC (4/27),The New York Times (4/27)
Archegos Capital owner Bill Hwang and former finance chief Patrick Halligan were arrested by federal agents Wednesday on charges of racketeering conspiracy, securities fraud and wire fraud in connection with an alleged scheme to manipulate stock prices using leverage. In one year's time, Archegos' portfolio soared from $1.5 billion to $35 billion before imploding in dramatic fashion in March 2021, causing damage throughout the financial system.
Full Story: Reuters (4/27),The Wall Street Journal (4/27),CNBC (4/27),The New York Times (4/27)
