最新报道:Archegos Capital Management borrowed billions from banks to build massive leveraged positions in seven stocks, driving up prices and generating paper gains used to secure more loans. The scheme collapsed in March 2021 when a stock dip triggered margin calls, leading to foreclosures, a total wipeout of Archegos, an 18-year prison sentence for its founder, and billions in losses for some banks. Banks later discovered Archegos had concentrated, highly leveraged exposures of 30-70% in each stock, borrowed from multiple lenders, and was collapsing—details many only realized as the crisis unfolded.