ARCHEGOS CAPITAL MANAGEMENT's former Chief Officer has been sentenced to eight years on Monday on his role in the collapse of 2021, which costs more than $ 10 billion in Wall Street Banks.
Patrick Harigan was convicted in July last year in a securities fraud, telegraph fraud, and assault conspiracy by Manhattan's Federal JU. His former boss, Archegos founder SUNG KOOK “Bill” Hwang, was convicted in the same trial.
It is expected that Harigan will remain on bail while his beliefs and punishments are alleged. He and the prosecutor agreed in his eight -year term for the purpose of the ruling.
Harigan's lawyer Mary Mulligan refused to comment. Manhattan's U.S. lawyer office did not immediately respond to comment requests.
The fans were sentenced to prison in November. He is also freely appealing to his beliefs and bail. Albin Hella Stein, a U.S. Judge in Manhattan, imposed both sentences.
Archegos, a family office that once managed $ 36 billion, was a margin of tens of millions of dollars from banks in March 2021 to bet on large -scale betting on media and technology stocks. It collapsed when the call could not be satisfied.
Some banks have lost money due to the collapse of credit Switzerland and Nomura, which lost $ 5.5 billion. Credit Switzerland is currently part of UBS.
Prosecutors stated in a prosecutor's recommendation in the ruling that the fans have played the role of leadership in supporting fans acquiring loans, distorting the market, and accumulating transactions that conceals risks from counter parties, etc. 。
