NEW YORK—Archegos Capital Management LP made a last-ditch effort to falsely persuade banks its survival was not at stake in an unsuccessful bid to forestall the sudden collapse of the $36 billion private investment firm, U.S. prosecutors said.
The accusation came in a 12-page letter filed on Thursday night in Manhattan federal court, where Archegos’ owner Sung Kook “Bill” Hwang has pleaded not guilty to 11 charges of fraud, market manipulation, and racketeering conspiracy.
