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Hwang Pleads Not Guilty, to Be Released on $100 Million Bond

  • Hwang secures bond with $5 million cash and two properties
  • Co-defendant also pleads not guilty, gets $1 million bail
Bloomberg business news
Hwang Pleads Not Guilty, Will Be Released on $100M Bond
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Archegos Capital Management Founder Bill Hwang pleaded not guilty to fraud and other charges from the collapse of his family office, and will be freed on $100 million bail. 

In his first appearance since being arrested at 6 a.m. Wednesday, Hwang agreed to fork over $5 million in cash and pledged two properties -- including his personal home -- to secure his bond. Wearing a face mask, green shirt and tan pants, Hwang agreed not to travel outside of the New York-New Jersey-Connecticut area. Hwang told prosecutors that he lost his passport, so his wife will surrender her passport instead.