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.
