Archegos founder Bill Hwang convicted at fraud trial over fund’s collapse

Quick Summary:

The meltdown of the US$36 billion private investment firm shook Wall Street and drew regulatory scrutiny on three continents.

Archegos head trader William Tomita and Chief Risk Officer Scott Becker testified as prosecution witnesses after pleading guilty to related charges and agreeing to cooperate in the case.

Bill Hwang, founder of Archegos Capital Management, arrives at federal court in New York on Wednesday.

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Article Details

Author / Journalist: Reuters

Category: Business

Markets: Hong Kong

Topics: Archegos Guilty Hwang Capital Fraud Billion Halligan Banks Prosecutors Hwang’s Counts

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-11 @ 05:16:43 (6 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 673 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21616204

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Main Topics: Business

Official Website: scmp.com

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Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 2 hours ago

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