FT: Archegos founder Bill Hwang found guilty over fund’s collapse

THE FINANCIAL TIMES reports:

A New York jury has found former Wall Street trader Bill Hwang guilty of fraud and market manipulation, more than three years after the implosion of his fund Archegos sent tremors through global equity markets and left major banks nursing billions of dollars in losses.

The verdict on Wednesday came after an eight-week trial in which prosecutors sought to prove that Hwang lied to lenders and “deceived the market” with secretive trading strategies that allowed him to ...