Deputy Attorney General Lisa O. Monaco and U.S. Attorney Damian Williams of the Southern District of New York on Wednesday announced an indictment has been unsealed charging two leaders of the private investment firm Archegos with racketeering conspiracy, securities fraud and wire fraud offenses.

Williams said Archegos founder Bill Hwang and chief financial officer Patrick Halligan participated in schemes to illegally manipulate the prices of publicly traded securities in Archegos’ portfolio and defraud major investment banks and brokerages.

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