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Archegos founder Bill Hwang to face SEC fraud charges over $36B firm’s epic collapse
A federal judge on Tuesday rejected Bill Hwang’s bid to dismiss a Securities and Exchange Commission lawsuit accusing him of fraud that led to the March 2021 collapse of his $36 billion firm Archegos Capital Management. US District Judge Paul Oetken in Manhattan said the SEC plausibly alleged that Hwang and Archegos, which is also a defendant, intentionally concealed the risks they were taking in their bid to illegally manipulate markets and artificially inflate the value of their largest stock holdings. Oetken also dismissed some fraud-based claims against Archegos’ former chief financial officer Patrick ... (full story)