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The Latest Breaking News from Archegos

Archegos Capital Founder Sentenced To 18 Years For Fraud

Founder of Archegos Capital Management sentenced to 18 years for securities fraud, causing billions in losses.

Top News

Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud

The founder of Archegos Capital Management, a hedge fund, has been sentenced to 18 years in prison for his conviction in a securities and market manipulation fraud that prosecutors say cost global investment banks billions of dollars

The Independent UK

Investor Says He's Lost More Than $30 Billion Of His Wealth As He Tries To Avoid Huge Payment

Bill Hwang, the founder of Archegos Capital Management, lost over $30 billion following the 2021 collapse of his family office.

International Business Times

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Archegos founder Bill Hwang tells court he can't pay $10 billion compensation to victims because he's only a millionaire

Lawyers for the disgraced whale don't believe a U.S. federal court should order any restitution to banks that agreed to lend him money under false pretences.

Fortune

Archegos speculator Bill Hwang could spend the rest of his life behind bars after his disastrous bets ushered in the demise of Credit Suisse

Federal jury finds Hwang lied to lenders over the size and scope of his bets on stocks like ViacomCBS in order to juice returns, causing $10 billion in combined losses.

Fortune

Archegos Founder Bill Hwang Guilty In Multibillion-dollar Fraud Case

The founder of US investment firm Archegos, Bill Hwang, was found guilty Wednesday of fraud and market manipulation in a case focused on the fund's 2021 implosion that cost major banks billions of dollars.

International Business Times

Founder of collapsed hedge fund Archegos Capital is convicted of securities fraud scheme

The founder of Archegos Capital Management has been convicted of securities fraud in a scheme that prosecutors say cost global investment banks billions of dollars

The Independent UK

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Bathroom breaks were banned by Archegos boss accused of fraud, who allegedly 'yelled' at staff for stepping away while key stocks were moving

The trial of Sung Kook “Bill” Hwang, boss at Archegos Capital Management, heard former staffer William Tomita claim Hwang banned bathroom breaks during key trades.

Fortune

Bill Hwang Trial Commences For Billion Archegos Collapse

The trial of Bill Hwang, founder of Archegos Capital Management, delves into the billion collapse of Archegos in 2021 and its implications for the fina...

Top News

Archegos Founder To Go On Trial For Fraud, Market Manipulation

The family-owned hedge fund run by Hwang had taken huge bets on a few stocks with money borrowed from banks, and when several of those bets turned sour, the fund was unable to meet "margin calls" to cover the losses.

International Business Times

Bill Hwang's Trial Commences For Archegos Fund Collapse

Trial of Bill Hwang, founder of Archegos fund, for alleged fraud and fund collapse exposes risks in hedge fund industry.

Top News

Goldman, Morgan Stanley To Face Lawsuit Over Archegos Collapse

Investors sue Goldman Sachs and Morgan Stanley over Archegos collapse, raising concerns about risk management in family office sector.

Top News

Major investment bank and former trader fined over stock-trade fraud

Federal regulators say a major investment firm and one of its employees were involved in a multiyear fraud involving block trades.

The Street

Archegos Founder Hwang Seeks Sanctions Over Prosecutors' Data Failure

Archegos founder Hwang calls out prosecutors in ongoing fraud case, seeking sanctions over their 'grave failure' in mishandling crucial data.

Top News

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The Street

Billionaire Ackman Sends a Warning to Legendary Financier Icahn

The two activist investors clashed over the Herbalife nutrition group a few years ago. Icahn is currently at the center of a hostile short-seller campaign.

The Street

Billionaire Bill Ackman Makes a Dire Prediction About Nemesis Carl Icahn

The two activist investors clashed over the Herbalife nutrition group a few years ago. Icahn is currently at the center of a hostile short-seller campaign.

Fortune

Credit Suisse failure follows years of scandal and mistrust—with an Ohio mattress company playing a role

“We’ve watched the bank lurch from scandal to scandal for so long that it’s hard to recall all of them at this point.”

The Street

Credit Suisse Surrenders

The former European banking flagship will be bought for the modest sum of $3 billion by its eternal rival and compatriot UBS.

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The Street

Credit Suisse's Days Are Numbered

The Swiss government reportedly urged UBS to buy Credit Suisse, to end the crisis of confidence around its rival.

The Street

Credit Suisse Takes Another Big Hit

Swiss regulator FINMA says the bank "seriously breached" the law in the 2021 Greensill scandal.

AFP

Credit Suisse shares sink after biggest loss since 2008 financial crisis

Geneva (AFP) - Credit Suisse stocks plunged nearly 15 percent on Thursday as the scandal-plagued Swiss banking giant posted its biggest annual loss since the 2008 financial crisis -- and warned it expects to stay in the red in 2023.

Bangkok Post

Credit Suisse posts biggest loss since 2008

GENEVA: Credit Suisse on Thursday posted its biggest annual loss since the 2008 financial crisis and the scandal-plagued Swiss banking giant expects to fall deeper into the red in 2023, sending its shares tumbling.

Tribune News Service

Hwang seeks dismissal of charges for ‘deceitful’ US conduct

NEW YORK — Archegos Capital Management’s Bill Hwang asked a judge to toss out fraud charges against him because prosecutors allegedly engaged in “deceitful” conduct in the early days of the government’s probe.

AFP

Embattled Credit Suisse expects Q4 pre-tax loss

Zurich (AFP) - Credit Suisse predicted a surprise fourth-quarter pre-tax loss of up to $1.6 billion as the beleaguered bank undertakes a radical overhaul, sending stocks tumbling again on Wednesday.

The Street

Struggling Credit Suisse Gets Another Chance

The Swiss bank on Oct. 27 is expected to present its plan to restructure and put its scandals behind it.

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