Criminal Law

Ex-Archegos CFO Halligan Sentenced to 8 Years in Prison

The former chief financial officer of Archegos Capital Management was sentenced on Monday to eight years in prison over his role in the firm’s 2021 collapse, which cost Wall Street banks more than $10 billion.

Patrick Halligan was convicted of securities fraud, wire fraud and racketeering conspiracy by a Manhattan federal jury last July. His former boss, Archegos founder Sung Kook “Bill” Hwang, was also convicted at the same trial.

Read more at Reuters.

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