The $160 Billion Man Nobody Could See

Company: Archegos Capital Management The disclosure blind spot — how a convicted fraudster reopened as a "family office," used total return swaps to hold $160B of stock he legally didn't own, ran the same bet through nine banks that couldn't see each other, and how the SEC rule written to close that exact gap was formally withdrawn in 2025. SOURCE INDEX (in order of appearance) # Source Type 1 Reuters (via MarketScreener) Wire 2 Hedgeweek (citing Reuters) Trade press 3 Benzinga (citing Reuters) Financial news 4 Investment Executive Financial news 5 U.S. DOJ, District of New Jersey Gov't press release 6 SEC Press Release 2012-264 Gov't press release 7 SEC Family Office Compliance Guide Gov't guidance 8 Fortune / Associated Press Wire 9 Day Pitney LLP Legal analysis 10 Malay Mail (Reuters syndication) Wire 11 Institutional Investor Financial news 12 Credit Suisse Form 6-K (EDGAR) SEC filing 13 Business Standard (Reuters syndication) Wire 14 Pepperdine Law Review (open access) Academic 15 Business Standard (Bloomberg syndication) Wire 16 Fortune Financial news 17 Business Standard (Bloomberg syndication) Wire 18 UBS Form 6-K (EDGAR) SEC filing 19 NBC News Major outlet 20 U.S. DOJ, SDNY Gov't press release 21 SEC — Gensler statement Gov't statement 22 SEC Press Release 2021-259 Gov't press release 23 Nomura Form 6-K (EDGAR) SEC filing