Implosion in 2021 sent shockwaves through US equity markets and cost Wall Street banks billions of dollars
A New York jury has found former Wall Street trader Bill Hwang guilty of fraud and market manipulation, more than three years after the implosion of his fund Archegos sent tremors through global equity markets and left major banks nursing billions of dollars in losses.
Relatively unknown outside financial districts in New York and Hong Kong, Hwang worked at New York-based Tiger Management, founded by hedge fund pioneer Julian Robertson, from 1996 to 2001. He rose to international prominence in the spring of 2021, when his family office Archegos was revealed to be behind a fire sale of big stocks including Discovery, Viacom and Tencent.
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