Archegos Capital Management’s founder guilty of 10 of 11 criminal counts over investment firm that collapsed in 2021
Sung Kook “Bill” Hwang, the Archegos Capital Management founder, was convicted of fraud and other charges by a jury in Manhattan federal court on Wednesday. Prosecutors at a criminal trial had accused him of market manipulation ahead of the 2021 collapse of his $36bn private investment firm.
The jury, which began deliberations on Tuesday, found Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. Hwang and Halligan sat flanked by their lawyers as the verdict was read by a soft-spoken foreperson.
About Author
More Stories
Qantas posts $1.39bn profit as holidaymakers flock to Jetstar
#AltGov: the secret network of federal workers resisting Doge from the inside
Chinese fishing fleets using North Korean forced labour in potential breach of sanctions, report claims