Bill Hwang Sued Over $14.2M Fees

Compass Lexecon sued Archegos founder Bill Hwang in Manhattan federal court for unpaid $14.2 million consulting fees tied to his criminal defense.
The firm supplied economist Michael Johannes, who billed $1,400 per hour and served as the final expert witness at Hwang’s trial.
Hwang, convicted of fraud and market manipulation after Archegos’ $36 billion collapse, faces >$9 billion restitution and has assets estimated at $55 million.
The Archegos failure caused roughly $10 billion losses for banks and contributed to Credit Suisse’s demise; Hwang remains free on bail pending appeal.