Archegos Hwang & CFO Charged With Fraud…

* Archegos Capital Management’s owner, Bill Hwang, and its former chief financial officer, Patrick Halligan, were arrested Wednesday in connection with the implosion of the family office last year.

* The men are expected to appear in Manhattan federal court later Wednesday.

* They are being charged with racketeering conspiracy, securities fraud and wire fraud, according to a statement from a U.S. district court.