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William Tomita

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Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond
Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond A Bergen County businessman was arrested by federal agents on charges of orchestrating a massive market manipulation scheme that caused one of the biggest Wall Street trading collapses in history. Sung Kook “Bill” Hwang put the entire financial system at risk by conspiring with his former chief financial officer to boost profits for his Archegos Capital Management by lying to banks to inflate the stock prices of publicly traded companies, federal prosecutors said on Wednesday, April 27. The fraud scheme ballooned Hwang’s personal fortune from $1.5 billion to more than $35 billion in a singl…

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by Jerry DeMarco
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Bergen County's Bill Hwang Arrested By Feds In Billion-Dollar Stock Manipulation Scheme Bergen County's Bill Hwang Arrested By Feds In Billion-Dollar Stock Manipulation Scheme
Bergen County's Bill Hwang Arrested By Feds In Billion-Dollar Stock Manipulation Scheme Four people including a Bergen County resident have been arrested and charged for their alleged roles in the multi-billion dollar collapse of Archegos Capital Management, federal officials said. The firm’s former CFO, Long Island resident Patrick Halligan, age 45, of Syosset, and New Jersey resident of Bill Hwang of Tenafly, NJ — a Korean investor on Wall Street — have been arrested in connection with a racketeering scheme to manipulate the prices of publicly traded securities and to defraud global investment banks, US Attorney for the Southern District of New York Damian Williams said.…

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by Zak Failla