Bill Hwang, the founder of Archegos Capital Management, has been convicted of fraud and market manipulation three years after his investment fund's collapse. The guilty verdict follows accusations of Hwang lying to lenders while making large bets on various companies, leading to billions in losses for major banks. Alongside Hwang, his deputy Patrick Halligan was also found guilty on multiple counts. The illegal activities by Hwang and Halligan resulted in the fraudulent inflation of a $1.5 billion portfolio to $36 billion, as stated by US attorney Damian Williams. Both men have maintained their innocence and plan to appeal the verdict, with sentencing scheduled for October. The case highlights the consequences of financial deceit and the impact it can have on the market and investors.