ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Archegos founder Bill Hwang arrested on U.S. fraud charges

Family office's collapse hurt Credit Suisse, UBS, Nomura and Morgan Stanley

Bill Hwang, pictured here in 2012, has been charged by U.S. authorities for using collapsed family office Archegos Capital Management as an "instrument of market manipulation and fraud." (Bloomberg via Getty Images)

NEW YORK/LONDON (Financial Times) -- Bill Hwang, founder of collapsed family office Archegos Capital Management, has been arrested by U.S. authorities and charged with racketeering, fraud and market manipulation.

The indictment unsealed on Wednesday accused Hwang, 58, and former Chief Financial Officer Patrick Halligan, 45, of using Archegos as an "instrument of market manipulation and fraud" with "far-reaching consequences for other participants in the United States securities markets.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more