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Top related persons:
Hwang - 2 Patrick Halligan - 2 Archegos - 2 Sung Kook - 1 Bill - 1 Halligan - 1 Prosecutors - 1 Andrew Thomas - 1
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Top related orgs:
Archegos Capital Management - 2 Prosecutors - 1 U.S . Justice Department - 1 U.S - 1 Attorney's - 1 Southern - 1 of - 1 Credit Suisse - 1

Search resuls for: "Sung Kook"


2 mentions found


☆ Archegos founder Bill Hwang convicted at criminal trial over fund's collapse
  + stars: | 2024-07-10 | by ( ) www.cnbc.com   time to read: +4 min
Sung Kook (Bill) Hwang, the founder and head of the private investment firm Archegos, arrives at the Manhattan Federal Courthouse in New York City, U.S., July 9, 2024. The jury, which began deliberations on Tuesday, found Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. Hwang and Halligan sat flanked by their lawyers as the verdict was read by a soft-spoken foreperson. Hwang, 60, had pleaded not guilty to one count of racketeering conspiracy, three counts of fraud and seven counts of market manipulation. At its peak, prosecutors said Archegos had $36 billion in assets and $160 billion of exposure to equities.
Persons: Sung Kook, Bill, Hwang, Patrick Halligan, Halligan, Prosecutors, Andrew Thomas, Barry Berke, William Tomita, Scott Becker, Archegos Organizations: Archegos Capital Management, Prosecutors, U.S . Justice Department, U.S, Attorney's, Southern, of, Credit Suisse, UBS, Nomura Holdings Locations: Manhattan, New York City, U.S, of New York
☆ Bill Hwang, Whose Firm Archegos Collapsed in 2021, Is About to Go on Trial
  + stars: | 2024-05-08 | by ( Matthew Goldstein | ) www.nytimes.com   time to read: +1 min
Three years ago, a multibillion-dollar investment firm called Archegos Capital Management blew up with little warning, causing big losses for some Wall Street banks and leading to federal criminal charges against the firm’s founder, Bill Hwang. On Wednesday, Mr. Hwang, 60, who was charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation, is set to go on trial in Manhattan federal court. Federal prosecutors are seeking to secure a conviction in a major stock market manipulation case in which Mr. Hwang, whose legal name is Sung Kook Hwang, was one of the big financial losers. Archegos had managed money mainly for Mr. Hwang, his family and some of his employees, and much of his family’s wealth was wiped out when the firm collapsed in March 2021. Also on trial with Mr. Hwang is Patrick Halligan, the former chief financial officer of Archegos.
Persons: Bill Hwang, Hwang, Sung Kook Hwang, Archegos, Patrick Halligan Organizations: Archegos Capital Management, Authorities Locations: Manhattan, Wall
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