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Archegos Founder Hwang Faces 11 Charges – Telegraph

Hwang and chief financial officer Patrick Halligan are accused of artificially inflating the fund’s portfolio from $1.5 billion to $35 billion in just 12 months


The Archegos office at 888 Seventh Avenue, New York. Founder Bill Hwang and chief financial officer Patrick Halligan have been hit with fraud and numerous other charges by the US Department of Justice. Photo: Reuters.

 

The Archegos Capital Management saga has taken a new twist with founder Bill Hwang charged by the US with 11 counts, including fraud, London’s The Daily Telegraph reported.

Hwang and chief financial officer Patrick Halligan are accused of artificially inflating the fund’s portfolio from $1.5 billion to $35 billion in just 12 months, leaving banks with huge debts.

 

Read the full report: The Daily Telegraph.

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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