Sung Kook “Bill” Hwang, the former billionaire investor behind Archegos Capital Management, was handed an 18 year prison sentence on Wednesday for orchestrating one of the largest financial frauds in US history, according to a report by Reuters.
The manager of Katsu Fund, a hedge fund marketed as using artificial intelligence (AI) to guide its trading strategies, has been arrested and charged with securities fraud, wire fraud, and money laundering, according to a report by Investment Executive.
Bill Hwang, founder of Archegos Capital Management, should serve 21 years in prison for orchestrating a market manipulation scheme that collapsed his $36bn fund and inflicted more than $10bn in losses on lenders, according to a report by Reuters citing
The Managed Funds Association (MFA), a leading US lobbying group for hedge funds and private credit firms, has urged President-elect Donald Trump’s transition team to revisit what it calls “harmful” regulations imposed on private funds and to preserve “pro-growth tax
Bankrupt cryptocurrency exchange FTX has filed a lawsuit against Anthony Scaramucci and his hedge fund, SkyBridge Capital, as part of its broader strategy to recoup funds for creditors following its collapse, according to a report by Fortune.
Caroline Ellison, the former CEO of hedge fund Alameda Research and a central figure in the $11bn FTX cryptocurrency exchange scandal, has begun her two-year prison sentence in a Connecticut federal facility.
The Tel Aviv Stock Exchange (TASE) has published a proposal to recognise hedge fund holdings in companies listed on the exchange as part of their free float calculations, aligning with international market practices, and is asking for comments on the
The recent record level of US Treasuries basis trade bets by hedge funds has attracted increased regulatory attention, with global financial watchdog the Financial Stability Board (FSB) considering an investigation into the strategy, according to a report by Bloomberg.
The UK’s Financial Conduct Authority (FCA) has issued a warning to former hedge fund manager Crispin Odey, indicating it plans to take regulatory action over his attempts to obstruct a disciplinary investigation into sexual harassment claims, according to a report
Xiao Zhang, co-founder of prominent Chinese quantitative hedge fund Pinestone Asset Management Co, has been indicted by a federal grand jury in Boston on charges related to the alleged theft of trade secrets, according to a report by Bloomberg.
