Archegos engaged in ‘brazen scheme’ to manipulate market, SEC says

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Archegos Capital Management engaged in what the Securities and Exchange Commission called a “brazen scheme” to manipulate the market from at least September 2020 through March 2021, according to a filing made Wednesday. The SEC’s complaint against Bill Hwang, Patrick Halligan, William Tomita, Scott Becker and Archegos Capital Management alleged interlocking deceptive acts and misconduct, through false and misleading statements to security-based swap counterparties and prime brokers, to boost assets from around $4 billion to over $36 billion in just under six months. Hwang and Halligan were reportedly arrested, as the Commodity Futures Trading Commission filed related charges against Archegos.

This article was originally published by Marketwatch.com. Read the original article here.

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