US Federal Prosecutors Charge Archegos Founder Bill Hwang And Former CFO Patrick Halligan With Racketeering And Fraud

U.S. prosecutors have charged Archegos Capital Management founder Bill Hwang and Chief Financial Officer Patrick Halligan with racketeering and fraud, according to an indictment released today, in the latest fallout from the collapse of the family office.

Prosecutors alledge that Hwang and Halligan "corrupted the operations and activities" of the family office to manipulate the price of stocks it held and lie to banks and brokerages.