DOJ Starts Investigation into Archegos Capital Management Blowup

Posted on 05/27/2021

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The U.S. Department of Justice (DOJ) is getting their hands around the players and actions before and after the March meltdown of Bill Hwang’s Archegos Capital Management. U.S. federal prosecutors in Manhattan sent information requests to some of the banks that dealt with Archegos Capital Management. Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc., and Morgan Stanley have been contacted for information.

Publicly so far authorities haven’t accused Archegos Capital Management or its banks of breaking any laws in their dealings.

The Securities and Exchange Commission (SEC) launched a preliminary investigation into Hwang in March 2021.