Bill Hwang spent 25 years building his career, but his downfall took just four days.
and more than $20 billion in ViacomCBS Inc . Archegos derivatives' position was equal to more than 50% of ViacomCBS.
Viacom "held up pretty well today...Would you say that is a sign of strength?," one analyst texted Hwang after he had loaded up on shares to avert a major sell-off. "No. It is a sign of me buying," he replied. Tiger Asia grew quickly to more than $8 billion in assets after generating a dazzling 40% annualized return, according to a 2011 Institutional Investor article.
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Archegos Owner Bill Hwang, Former CFO Patrick Halligan Charged With FraudArchegos Capital Management owner Bill Hwang and the family office’s former chief financial officer, Patrick Halligan, were charged Wednesday with racketeering conspiracy, securities fraud and wire fraud, according to a statement from a U.S. district court. The men are expected to appear in Manhattan federal court later Wednesday. The court documents allege Hwang used his personal fortune to manipulate markets…
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House unanimously passes Asian American and Pacific Islander museum billThe House passed a bill on Tuesday that would help establish the first national Asian American and Pacific Islander museum.
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