Archegos Capital Management's founder, Sung Kook 'Bill' Hwang, has been convicted of fraud and market manipulation by a New York jury, three years after his investment fund's collapse. The failure of Archegos caused massive losses for major banks, with Hwang accused of deceiving lenders and making large, secret bets on companies. As a result, when Archegos couldn't repay the banks, a stock sell-off occurred, leading to the fund's demise. Hwang's deputy, Patrick Halligan, was also found guilty on three charges. The sentencing is scheduled for October 28, but both men remain on bail. While Halligan's lawyer plans to appeal, Hwang's lawyer has not commented. The US attorney emphasized Hwang and Halligan's dishonesty in inflating their portfolio to $36 billion from $1.5 billion. Hwang faces multiple charges, while Halligan faces racketeering conspiracy and fraud charges.