Rogue Trader's Collapse Still Ripples Through the Financial Industry
Archegos Capital Management, a family office run by Bill Hwang, collapsed in March 2021, leaving its counterparties with over $10 billion in losses. The SEC, CFTC, and DOJ have all filed charges against Archegos and its executives, alleging that they engaged in market manipulation and fraud. The litigation is still ongoing, but the case has already significantly affected the financial industry.