Archegos Banks That Unwound Bets Face Criminal Antitrust Probe

Lisa Phelan spoke to BNN Bloomberg about the U.S. Justice Department investigating the bank lenders of Archegos Capital Management, a now-collapsed asset management firm, for collusion and conspiracy to collude to control prices after its founder, Bill Hwang, was convicted on federal fraud and racketeering charges. 

“The Justice Department says nothing justifies coordinating your decision-making on something that’s going to impact the value of or the price of a stock,” said Lisa Phelan. “People might think it will be really helpful and good, but they should check. Generally, DOJ is loathe to give an exception.”

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