Sung Kook ‘Bill’ Hwang, founder of Archegos Capital Management, has been sentenced to 18 years in prison after being convicted of fraud and market manipulation that led to significant losses for Wall Street banks. The case, one of the largest hedge fund collapses since 2008, saw Hwang mislead banks while amassing large investments. His sentence, while shorter than prosecutors’ request, underscores the impact of his actions, which triggered a massive sell-off in the stock market. Hwang’s legal team argued against punishment, citing his charitable contributions and religious faith.