
the Staff of the Ridgewood blog
Tenafly NJ, Archegos Capital Management founder Bill Hwang put up a one-bedroom condominium in Fort Lee, New Jersey, alongside his family home in nearby Tenafly as part of the $100 million bond set by a judge to ensure he shows up in court on fraud charges.
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Hwang and former chief financial officer Patrick Halligan were arrested April 27 and charged with 11 criminal counts, including racketeering conspiracy, market manipulation and fraud, in the collapse of Hwang’s family office. Hwang was released the same day and given until Friday to meet the bail conditions. Hwang and Halligan have both pleaded not guilty.
The Ridgewood blog had previously reported , Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos’s Chief Financial Officer, with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud many leading global investment banks and brokerages.