{"id":49620,"date":"2022-04-28T10:22:11","date_gmt":"2022-04-28T17:22:11","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=49620"},"modified":"2022-04-28T10:22:11","modified_gmt":"2022-04-28T17:22:11","slug":"four-charged-in-connection-with-an-alleged-multibillion-dollar-collapse-of-archegos","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=49620","title":{"rendered":"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos"},"content":{"rendered":"<div class=\"field field--name-field-pr-body field--type-text-long field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\">\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><strong>WASHINGTON D.C.<\/strong><\/span><\/p>\n<figure id=\"attachment_49622\" aria-describedby=\"caption-attachment-49622\" style=\"width: 275px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-49622 size-full\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-11.jpg\" alt=\"\" width=\"275\" height=\"183\" \/><figcaption id=\"caption-attachment-49622\" class=\"wp-caption-text\">Sung Kook (Bill) Hwang \u2014 Photo: Finance.Yahoo.com<\/figcaption><\/figure>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos\u2019s Chief Financial Officer, with a slew of financial crimes.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">They are charged with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos\u2019s portfolio and to defraud many leading global investment banks and brokerages. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Both defendants were arrested Wednesday.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-49254 alignright\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/03\/wyxqqpyfnk8-200x300.jpg\" alt=\"white and black printer paper\" width=\"200\" height=\"300\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/03\/wyxqqpyfnk8-200x300.jpg 200w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/03\/wyxqqpyfnk8-683x1024.jpg 683w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/03\/wyxqqpyfnk8-768x1152.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/03\/wyxqqpyfnk8.jpg 800w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/>Also, unsealed Wednesday are the guilty pleas of Scott Becker and William Tomita in connection with their participation in the conspiracy. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Becker pleaded guilty before U.S. District Court Judge Laura Taylor Swain on April 21. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Tomita pleaded guilty before Judge Swain on April 21. Both are cooperating with the government.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">\u201cWe allege that these defendants and their co-conspirators lied to banks to obtain billions of dollars that they then used to inflate the stock price of a number of publicly-traded companies,\u201d said U.S. Attorney Williams. \u201cThe lies fed the inflation, and the inflation led to more lies. Round and round it went. In one year, Hwang allegedly turned a $1.5 billion portfolio and pumped it up into a $35 billion portfolio. But last year, the music stopped. The bubble burst. The prices dropped. And when they did, billions of dollars of capital evaporated nearly overnight.\u201d<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-41022 aligncenter\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1-300x95.jpg\" alt=\"\" width=\"300\" height=\"95\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1-300x95.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1-1024x323.jpg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1-768x243.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1-1536x485.jpg 1536w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2016\/05\/cropped-courthouse-1.jpg 1900w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">According to the allegations in the indictment unsealed Wednesday in Manhattan federal court:<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5906 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/09\/U.S.-Department-of-Justice.jpg\" alt=\"\" width=\"200\" height=\"200\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/09\/U.S.-Department-of-Justice.jpg 200w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/09\/U.S.-Department-of-Justice-150x150.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/>Sung Kook (Bill) Hwang is the founder and owner of Archegos Capital Management and its related business entities, which are collectively known as Archegos. As alleged, Hwang, along with Patrick Halligan, Scott Becker and William Tomita lied to banks to obtain billions of dollars that they then used to artificially inflate the stock price of a number of publicly traded companies.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Hwang and his co-conspirators invested in stocks mostly through special contracts with banks and brokers called \u201cswaps.\u201d <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">As alleged, these swaps allowed Hwang to cause massive buying of certain stocks, including at carefully selected days and times, to artificially pump up stock prices. Hwang, Halligan and their co-conspirators lied to banks and used a series of manipulative trading techniques to keep those prices high and prevent them from falling. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">This led to inflation of these stock prices. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-49591 aligncenter\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/3665164-300x160.jpg\" alt=\"\" width=\"300\" height=\"160\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/3665164-300x160.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/3665164-1024x547.jpg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/3665164-768x410.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/3665164.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">In one year, Hwang turned a $1.5 billion portfolio and fraudulently pumped it up into a $35 billion portfolio.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Last year, when the prices fell, Hwang\u2019s positions were sold off and he could no longer manipulate the prices, and billions of dollars of capital evaporated nearly overnight.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-49550 alignright\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1-300x200.jpg\" alt=\"woman holding sword statue during daytime\" width=\"300\" height=\"200\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1-300x200.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1-1024x683.jpg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1-768x512.jpg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1-1536x1024.jpg 1536w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/dzpc4uy8zty-1.jpg 1600w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>As alleged, the defendants committed this fraud in secret. Since 2014, Hwang has run Archegos as a private hedge fund or \u201cfamily office,\u201d meaning that Archegos, unlike other large hedge funds, was not required to tell regulators information about its holdings and debt that might have shined a light on the fraud and allowed the crisis to be averted.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">And because Hwang traded mostly through swaps, he was able to do the buying alleged in the indictment without anyone knowing that Archegos was actually behind all the trading. Regular market participants, and even the companies themselves, were duped into thinking the price increases were caused by the normal interplay of supply and demand when, instead, as alleged, they were the artificial result of Hwang\u2019s manipulative trading.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-49327 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-300x200.jpeg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-300x200.jpeg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-1024x683.jpeg 1024w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-768x512.jpeg 768w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-1536x1024.jpeg 1536w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/qtq80-PNCPHM-2048x1365.jpeg 2048w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>For example, as alleged, by March 24, 2021, Hwang effectively controlled more than 50% of the freely trading shares of Viacom \u2013 and no one outside of Archegos knew about it \u2014 not investors purchasing Viacom in the market, or the executives at Viacom itself, or even the banks and brokerages who held the stock as part of the swaps. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Because, as alleged, by using various banks and brokerages for his swaps, Hwang made sure that no single institution would have any idea that he was behind all of this trading.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-48994 alignright\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/02\/download-21.jpg\" alt=\"\" width=\"275\" height=\"183\" \/>The indictment further alleges that in order to get the billions of dollars Archegos needed to sustain this market manipulation scheme, Hwang and his co-conspirators lied to and misled some of Wall Street\u2019s leading banks about how big Archegos\u2019s investments had become, how much cash Archegos had on hand and the nature of the stocks that Archegos held. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">As alleged, they told those lies so that the banks would have no idea what Archegos was really up to, how risky the portfolio was, and what would happen if the market turned.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">As alleged, just over a year ago, the market turned and the stock prices Hwang and his co-conspirators had artificially inflated crashed, causing immense damage to U.S. financial markets and ordinary investors. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1073 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2.jpg\" alt=\"\" width=\"299\" height=\"188\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2.jpg 299w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2-120x76.jpg 120w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2-265x168.jpg 265w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2-284x180.jpg 284w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/02\/criminal_justice_jurisprudence-2-274x173.jpg 274w\" sizes=\"auto, (max-width: 299px) 100vw, 299px\" \/>In a matter of days, the companies at the center of Archegos\u2019s trading scheme lost more than $100 billion in market capitalization, Archegos owed billions of dollars more than it had on hand, and Archegos collapsed. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Market participants who purchased the relevant stocks at artificial prices lost the value they believed their investments held, the banks lost billions of dollars, and Archegos employees, many of whom were required to invest 25% or more of their bonuses with Archegos as deferred compensation, lost millions of dollars.*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">A chart containing the names, ages, residences, charges, and maximum penalties for the defendants is attached. The maximum potential sentences, in this case, are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by a judge.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Defendants are presumed innocent unless proven guilty.<\/span><\/p>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><\/td>\n<td><span style=\"font-size: 20px;\"><strong>Age<\/strong><\/span><\/td>\n<td><span style=\"font-size: 20px;\"><strong>Residence<\/strong><\/span><\/td>\n<td><span style=\"font-size: 20px;\"><strong>Charges<\/strong><\/span><\/td>\n<td><span style=\"font-size: 20px;\"><strong>Maximum Potential Sentence(s)<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\"><span style=\"font-size: 20px;\"><em>United States v. Sung Kook (Bill) Hwang and Patrick Halligan, 22 Cr. 240<\/em><\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: 20px;\">HWANG<\/span><\/td>\n<td><span style=\"font-size: 20px;\">58<\/span><\/p>\n<p>&nbsp;<\/td>\n<td><span style=\"font-size: 20px;\">Tenafly, NJ<\/span><\/td>\n<td><span style=\"font-size: 20px;\">Racketeering Conspiracy, 18 U.S.C. \u00a7\u00a01962(d) (Count One)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Securities Fraud, 15 U.S.C. \u00a7\u00a7\u00a078j(b) &amp; 78ff (Counts Two and Ten)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Market Manipulation, 15 U.S.C. \u00a7\u00a7\u00a078i &amp; 78ff (Counts Two through Nine)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Wire Fraud,<\/span><\/p>\n<p><span style=\"font-size: 20px;\">18 U.S.C. \u00a7 1343 (Count Eleven)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<td><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years (on each count)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years (on each count)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: 20px;\">HALLIGAN<\/span><\/td>\n<td><span style=\"font-size: 20px;\">45<\/span><\/td>\n<td><span style=\"font-size: 20px;\">Syosset, NY<\/span><\/td>\n<td><span style=\"font-size: 20px;\">Racketeering Conspiracy, 18 U.S.C. \u00a7\u00a01962(d) (Count One)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Securities Fraud, 15 U.S.C. \u00a7\u00a7\u00a078j(b) &amp; 78ff (Count Ten)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Wire Fraud,<\/span><\/p>\n<p><span style=\"font-size: 20px;\">18 U.S.C. \u00a7 1343 (Count Eleven)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<td><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\"><span style=\"font-size: 20px;\"><em>United States v. Scott Becker and William Tomita<\/em>, 22 Cr. 231 (LTS)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-size: 20px;\">BECKER<\/span><\/td>\n<td><span style=\"font-size: 20px;\">38<\/span><\/td>\n<td><span style=\"font-size: 20px;\">Goshen, NY<\/span><\/td>\n<td><span style=\"font-size: 20px;\">Conspiracy to Commit Racketeering Conspiracy, 18 U.S.C. \u00a7\u00a01962(d) (Count One)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Securities Fraud, 15 U.S.C. \u00a7\u00a7\u00a078j(b) &amp; 78ff (Count Two)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Wire Fraud,<\/span><\/p>\n<p><span style=\"font-size: 20px;\">18 U.S.C. \u00a7 1343 (Count Three)<\/span><\/td>\n<td><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">20 years<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-size: 20px;\">TOMITA<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-size: 20px;\">38<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-size: 20px;\">Greenwich, CT<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"font-size: 20px;\">Racketeering Conspiracy, 18 U.S.C. \u00a7\u00a01962(d) (Count One)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Securities Fraud, 15 U.S.C. \u00a7\u00a7\u00a078j(b) &amp; 78ff (Counts Two and Four)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Market Manipulation, 15 U.S.C. \u00a7\u00a7\u00a078i &amp; 78ff (Count Three)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 20px;\">Wire Fraud,<\/span><\/p>\n<p><span style=\"font-size: 20px;\">18 U.S.C. \u00a7 1343 (Count Five)<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">20 years (on each count)<\/span><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">20 years<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos\u2019s Chief Financial Officer, with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":49621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3255],"tags":[],"class_list":["post-49620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-federal-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos<\/title>\n<meta name=\"description\" content=\"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjnotebook.com\/?p=49620\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cjnotebook.com\/?p=49620\" \/>\n<meta property=\"og:site_name\" content=\"American Justice Notebook\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AmericanJusticeNotebook\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-28T17:22:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raul\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raul\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620\"},\"author\":{\"name\":\"Raul\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\"},\"headline\":\"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos\",\"datePublished\":\"2022-04-28T17:22:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620\"},\"wordCount\":1162,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/download-10-1.jpg\",\"articleSection\":[\"Federal Court\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620\",\"name\":\"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/download-10-1.jpg\",\"datePublished\":\"2022-04-28T17:22:11+00:00\",\"description\":\"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cjnotebook.com\\\/?p=49620\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/?p=49620#primaryimage\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/download-10-1.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/download-10-1.jpg\",\"width\":275,\"height\":183},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#website\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"name\":\"American Justice Notebook\",\"description\":\"&quot;Our liberty depends on the freedom of the press, and that cannot be limited without being lost.&quot; \u2014  Thomas Jefferson\",\"publisher\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cjnotebook.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#organization\",\"name\":\"American Justice Notebook\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"contentUrl\":\"https:\\\/\\\/cjnotebook.com\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/Justice-Scales.jpg\",\"width\":675,\"height\":231,\"caption\":\"American Justice Notebook\"},\"image\":{\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/AmericanJusticeNotebook\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cjnotebook.com\\\/#\\\/schema\\\/person\\\/f5521baddca77b521f012298775186c0\",\"name\":\"Raul\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g\",\"caption\":\"Raul\"},\"description\":\"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.\",\"sameAs\":[\"https:\\\/\\\/cjnotebook.com\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos","description":"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cjnotebook.com\/?p=49620","og_locale":"en_US","og_type":"article","og_title":"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos","og_description":"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,","og_url":"https:\/\/cjnotebook.com\/?p=49620","og_site_name":"American Justice Notebook","article_publisher":"https:\/\/www.facebook.com\/AmericanJusticeNotebook","article_published_time":"2022-04-28T17:22:11+00:00","og_image":[{"width":275,"height":183,"url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg","type":"image\/jpeg"}],"author":"Raul","twitter_misc":{"Written by":"Raul","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cjnotebook.com\/?p=49620#article","isPartOf":{"@id":"https:\/\/cjnotebook.com\/?p=49620"},"author":{"name":"Raul","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0"},"headline":"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos","datePublished":"2022-04-28T17:22:11+00:00","mainEntityOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=49620"},"wordCount":1162,"commentCount":0,"publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=49620#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg","articleSection":["Federal Court"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cjnotebook.com\/?p=49620#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cjnotebook.com\/?p=49620","url":"https:\/\/cjnotebook.com\/?p=49620","name":"Four Charged in Connection with an Alleged Multibillion-Dollar Collapse of Archegos","isPartOf":{"@id":"https:\/\/cjnotebook.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cjnotebook.com\/?p=49620#primaryimage"},"image":{"@id":"https:\/\/cjnotebook.com\/?p=49620#primaryimage"},"thumbnailUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg","datePublished":"2022-04-28T17:22:11+00:00","description":"WASHINGTON D.C. An indictment was unsealed Wednesday charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos,","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cjnotebook.com\/?p=49620"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/?p=49620#primaryimage","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2022\/04\/download-10-1.jpg","width":275,"height":183},{"@type":"WebSite","@id":"https:\/\/cjnotebook.com\/#website","url":"https:\/\/cjnotebook.com\/","name":"American Justice Notebook","description":"&quot;Our liberty depends on the freedom of the press, and that cannot be limited without being lost.&quot; \u2014  Thomas Jefferson","publisher":{"@id":"https:\/\/cjnotebook.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cjnotebook.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cjnotebook.com\/#organization","name":"American Justice Notebook","url":"https:\/\/cjnotebook.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/","url":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","contentUrl":"https:\/\/cjnotebook.com\/wp-content\/uploads\/2014\/07\/Justice-Scales.jpg","width":675,"height":231,"caption":"American Justice Notebook"},"image":{"@id":"https:\/\/cjnotebook.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/AmericanJusticeNotebook"]},{"@type":"Person","@id":"https:\/\/cjnotebook.com\/#\/schema\/person\/f5521baddca77b521f012298775186c0","name":"Raul","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f80bd073aca2abc2fc18e390e13d00b72d9d3a81bca4fd53e3567b02efee6f?s=96&r=g","caption":"Raul"},"description":"Raul Hernandez is a former journalist. He has worked as a newspaper reporter for more than 30 years at the El Paso Herald-Post, El Paso Times, Press Enterprise in Riverside, California and the Ventura County Star in California. He was a court reporter for more than 20 years.","sameAs":["https:\/\/cjnotebook.com\/"]}]}},"_links":{"self":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/49620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49620"}],"version-history":[{"count":1,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/49620\/revisions"}],"predecessor-version":[{"id":49623,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/posts\/49620\/revisions\/49623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=\/wp\/v2\/media\/49621"}],"wp:attachment":[{"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cjnotebook.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}