NEW YORK—Archegos Capital Management LP made a last-ditch effort to falsely persuade banks its survival was not at stake in an unsuccessful bid to forestall the sudden collapse of the $36 billion private investment firm, U.S. prosecutors said. The accusation came in a 12-page letter filed on Thursday night in Manhattan federal court, where Archegos’…
Archegos Tried to Lull Banks Before $36 Billion Firm Collapsed: Prosecutors
Archegos Founder Bill Hwang Arrested on US Federal Fraud Charges
Founder of Archegos Capital Management, Bill Hwang, was arrested on April 27 after being indicted on charges of securities fraud, wire fraud, and racketeering, announced federal prosecutors for the Southern District of New York in Manhattan. The head of the New York-based hedge fund, which collapsed in March 2021 after defaulting on margin calls, was…
Goldman Flags Archegos-Related Lawsuits as Potential Legal Risks
Goldman Sachs Group Inc. said it had been sued for alleged insider trading related to the Archegos meltdown earlier this year, flagging the lawsuits as potential legal risks in a filing on Monday. The lawsuits were filed by shareholders of three companies—Vipshop Holdings Ltd, GSX Techedu Inc., and Tencent Music Entertainment Group—and accuse the bank…
NTD Business Full Broadcast (Mar. 29)
The massive ship blocking the Suez canal is finally free and back on its course. Hundreds of vessels start moving again. Investors breathe a sigh of relief for now as the forced liquidation of a New York based fund doesn’t upset broader markets. But is there still risk downstream? Personal bankruptcy rates plummet during the…
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