Jury Finds Archegos Founder Bill Hwang Guilty of Fraud and Racketeering

Bill Hwang, founder of Archegos Capital Management, was found guilty on 10 out of 11 charges, including securities fraud, wire fraud, conspiracy, racketeering, and market manipulation, in connection with the firm's 2021 collapse that led to $10 billion losses for major Wall Street banks23.

The jury in Bill Hwang's trial deliberated for nearly two days before finding him guilty on 10 of 11 charges related to the collapse of Archegos Capital Management. The trial, which lasted two months, included testimony from 21 prosecution witnesses, including former employees of Archegos.