The Globe and Mail reports in its Thursday edition that Archegos Capital Management founder Sung Kook Hwang was convicted of fraud and other charges by a jury in Manhattan Federal Court on Wednesday at a criminal trial in which prosecutors accused him of market manipulation ahead of the 2021 collapse of his $36-billion (U.S.) private investment firm. A Reuters dispatch to The Globe says that the jury, which began deliberations on Tuesday, found Mr. Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. U.S. District Judge Alvin Hellerstein set the sentencing for Oct. 28. Both men will remain free on bail. The Archegos meltdown sent shock waves across Wall Street and drew regulatory scrutiny on three continents. Prosecutors have said Mr. Hwang and Mr. Halligan lied to banks to obtain billions of dollars that they used to artificially pump up the stock prices of multiple publicly traded companies. The trial began in May. Damian Williams, the U.S. lawyer in Manhattan, said the verdict should send a clear message that his office will hold accountable people such as Mr. Hwang and Mr. Halligan "who think they can cheat the system."