Reported: Archegos Capital Management ARCG (Company)
Compiled by ScamMarketCap from public recordsHappened Mar 26, 2021United States
Archegos Capital Management was the family office of investor Bill Hwang and once managed about $36 billion. Prosecutors showed that from 2020 Hwang used it to manipulate a handful of stocks, including ViacomCBS and Discovery, while he and finance chief Patrick Halligan lied to the banks financing the trades about the portfolio and its risks. When the stocks fell in late March 2021, Archegos could not meet its margin calls and collapsed. Banks lost more than $10 billion, including $5.5 billion at Credit Suisse.
In July 2024 a federal jury in Manhattan convicted Hwang of racketeering conspiracy, securities fraud, market manipulation and wire fraud, and he was sentenced to 18 years in prison and ordered to pay more than $9 billion in restitution. Halligan was convicted at the same trial and sentenced to eight years. Both have remained free on bail while they appeal, and in January 2026 a Justice Department notice showed that Hwang had applied for a presidential pardon.
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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