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BREAKING : BILL HWANG SENTENCED TO 18 YEARS FOR ARCHEGOS COLLAPSE

Mario Nawfal

@MarioNawfal
🚨🇺🇸 BREAKING: BILL HWANG SENTENCED TO 18 YEARS FOR ARCHEGOS COLLAPSE

Bill Hwang, former billionaire investor and founder of Archegos Capital Management, was sentenced to 18 years in prison for defrauding Wall Street banks.

His 2021 collapse led to over $10 billion in losses.

Hwang was convicted on 10 criminal charges, including wire fraud and market manipulation.

His reckless borrowing and failed stock bets caused the downfall of Archegos, wiping out over $100 billion in market value.

Prosecutors had sought 21 years and $12.35 billion in forfeitures.

Source: Reuters

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