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Wall Street investor Hwang, once worth billions, arrested

Bill Hwang, founder of Archegos Capital Management, leaves the courthouse in New York, Wednesday, April 27, 2022. The owner of the New York-based hedge fund that collapsed when it defaulted on margin calls was arrested Wednesday on charges alleging he defrauded leading global investment banks and brokerages of billions of dollars. (AP Photo/Seth Wenig) Bill Hwang, founder of Archegos Capital Management, leaves the courthouse in New York, Wednesday, April 27, 2022. The owner of the New York-based hedge fund that collapsed when it defaulted on margin calls was arrested Wednesday on charges alleging he defrauded leading global investment banks and brokerages of billions of dollars. (AP Photo/Seth Wenig) Bill Hwang, founder of Archegos Capital Management, leaves the courthouse in New York, Wednesday, April 27, 2022. The owner of the New York-based hedge fund that collapsed when it defaulted on margin calls was arrested Wednesday on charges alleging he defrauded leading global investment banks and brokerages of billions of dollars. (AP Photo/Seth Wenig) Bill Hwang, founder of Archegos Capital Management, leaves the courthouse in New York, Wednesday, April 27, 2022. The owner of the New York-based hedge fund that collapsed when it defaulted on margin calls was arrested Wednesday on charges alleging he defrauded leading global investment banks and brokerages of billions of dollars. (AP Photo/Seth Wenig) Deputy Attorney General Lisa O. Monaco announces the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former chief financial officer, Patrick Halligan during a news conference in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez) Deputy Attorney General Lisa O. Monaco announces the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former chief financial officer, Patrick Halligan during a news conference in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez) U.S. Attorney Damian Williams speaks during a news conference announcing the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former Chief Financial Officer, Patrick Halligan during a news conference in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez) Deputy Attorney General Lisa O. Monaco announces the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former chief financial officer, Patrick Halligan during a news conference in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez) U.S. Attorney Damian Williams speaks during a news conference announcing the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former chief financial officer, Patrick Halligan in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez) Deputy Attorney General Lisa O. Monaco announces the unsealing of an indictment of Bill Hwang, the founder of Archegos Capital Management, and his former chief financial officer, Patrick Halligan during a news conference in New York, Wednesday, April 27, 2022. Both were expected to appear later in the day in court. They face racketeering conspiracy and fraud charges. (AP Photo/Eduardo Munoz Alvarez)