Reported 2 days ago
Bill Hwang, the founder of Archegos Capital Management, has been sentenced to 18 years in prison for securities fraud that led to billions of dollars in losses for global investment banks. Hwang's fraudulent scheme involved inflating stock values, leading to a collapse that wiped out $100 billion in market value in March 2021. Despite feeling regret for his actions, Hwang was convicted on multiple counts of fraud and manipulation during his trial.
Source: YAHOO