4 sources·Business

Bill Hwang Sentenced to 18 Years for Fraud at Archegos Capital Management

Archegos founder Bill Hwang receives an 18-year prison sentence for securities fraud, resulting in over $10 billion loss to Wall Street banks.

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).
Reliable
The underlying sources consistently report facts with minimal bias, demonstrating high-quality journalism and accuracy.
Balanced
The underlying sources are either a balanced mix of left and right or primarily centrist.
Subscribe to unlock this story

We really don't like cutting you off, but you've reached your monthly limit. At just $3/month or $30/year, subscriptions are how we keep this project going. Start your free 7-day trial today!

Get Started

No highlights available for this story.

Updated: Nov 20th, 2024, 6:42 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

Bill Hwang, founder of Archegos Capital Management, was sentenced to 18 years in prison for securities and market manipulation fraud. His actions led to the firm's collapse, wiping out over $100 billion in market value and costing banks more than $10 billion. Hwang was convicted on multiple charges including wire fraud. Prosecutors sought a longer sentence, highlighting the case's impact on Wall Street. Hwang's lawyers argued for leniency, citing his philanthropic work and low risk of re-offending.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

No center-leaning sources available for this story.

Bill Hwang Sentenced to 18 Years for Fraud at Archegos Capital Management - Pano News