News & Insights

Jack Sharman Quoted in Bloomberg Story on Archegos Capital Management Criminal Prosecution

May 19, 2022

In the wake of ongoing litigation against Archegos Capital Management tied to the fund’s alleged illegal trading practices, Bloomberg turned to Lightfoot partner Jack Sharman for legal analysis and insights.

Sharman, who leads the firm's White-Collar Criminal Defense & Corporate Investigations practice, spoke to Bloomberg about possible defense strategies Archegos and its founder, Bill Hwang, could pursue in response to revelations that two of Hwang’s top employees will plead guilty and testify against him.

In the article, Sharman said that one defense strategy would be to argue that the two cooperating witnesses are merely trying to cover up their own mistakes or wrongdoing, and that Hwang did not intend to commit any crimes despite losing substantial money for his investors. 

When asked about the likely argument defense counsel would pursue, Sharman said, “There’s no smoking gun, there’s no fingerprint.”

Sharman has spent his career at the forefront of high-profile investigations. His experience has included: serving as special counsel during the Whitewater investigation involving Bill and Hillary Clinton; leading the impeachment probe of Alabama Governor Robert Bentley; conducting a review of Huntsville police actions during George Floyd protests; and, currently, serving as special counsel to the Office of the Georgia Secretary of State in a probe of Georgia’s 2020 presidential election focused on a call between then-President Donald Trump and Georgia Secretary of State Brad Raffensperger.