Bill Hwang Sentenced to 18 Years for Archegos Fraud
Sung Kook ‘Bill’ Hwang, former head of Archegos Capital Management, has been sentenced to 18 years in prison for fraud and market manipulation that led to the collapse of his investment firm in 2021, costing Wall Street banks billions. U.S. District Judge Alvin Hellerstein criticized the scale of losses caused by Hwang’s actions and dismissed defense arguments for leniency. The sentencing follows a high-profile trial that highlighted significant failures in the financial sector.