Bill Hwang, Whose Firm Archegos Collapsed in 2021, Is About to Go on Trial

Bill Hwang, founder of Archegos Capital Management, is set to face trial in Manhattan federal court on charges including securities fraud and market manipulation after his firm's collapse in 2021. The collapse led to significant losses for Wall Street banks and wiped out much of his family's wealth. Hwang, along with former CFO Patrick Halligan, allegedly inflated stock prices using borrowed funds, escalating their net worth before the firm's downfall.