The Justice Department has closed a criminal antitrust probe into whether banks illegally coordinated their responses to the unraveling of Bill Hwang’s family office Archegos without bringing charges, according to people familiar with the matter, ending a yearslong chapter of government scrutiny into an implosion that rocked Wall Street.
People involved in the probe were notified earlier this year that the investigation, which began in 2021, was being closed by prosecutors, said some of the people, who asked not to be identified discussing a confidential decision. Authorities examined whether talks among Archegos’ trading partners about how to unwind more ...
