Federal prosecutors allege Hwang’s fraud pumped the firm’s portfolio from $1.5bn to $35bn in one year

Archegos Capital Management founder Bill Hwang and chief financial officer Patrick Halligan 

 on charges of securities fraud, wire fraud and racketeering, federal prosecutors in Manhattan said on 27 April.

Prosecutors alleged the men took part in interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud leading global investment banks and brokerages.

Archegos founder Hwang charged with securities fraud

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Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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