From March 2020 through its collapse in March 2021, Archegos Capital Management, headed by Sung Kook (Bill) Hwang and partners, entered into a manipulative scheme that increased Archego’s bottom line from around $4 billion to $36 billion, according to a SEC lawsuit filed against Archegos.
Archego went undetected by leveraging existing minimal regulations governing family offices and exploiting a regulatory loophole that would not force it to disclose its stake in certain companies.
