Reuters
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888 7th Ave, a building that reportedly houses Archegos Capital is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., March 29, 2021. REUTERS/Carlo Allegri
June 24 (Reuters) - U.S. investigators who focus on corporate collusion are examining how global banks handled multibillion-dollar trades with Bill Hwang s Archegos Capital Management, Bloomberg Law reported on Thursday.
At least part of the probe is being handled by the U.S. Department of Justice s (DOJ) antitrust division, the report said, citing people familiar with the matter. (https://bit.ly/3dcAMed)
Archegos, a family office run by former Tiger Asia manager Hwang, defaulted on margin calls in March, leaving banks nursing heavy losses and sparking a fire sale of shares including ViacomCBS (VIAC.O) and Discovery Inc (DISCA.O).
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