Bill Hwang Sentenced To 18 Years In Prison For Orchestrating Massive Market Manipulation And Fraud Schemes
Founder And Head Of Archegos Capital Management Bill Hwang Sentenced To 18 Years In Prison For Orchestrating Massive Market Manipulation And Fraud Schemes
Acting U.S. Attorney Edward Y. Kim said: “Bill Hwang weaponized his personal hedge fund, Archegos, to pursue financial fraud on a national scale. For months on end, Hwang and his coconspirators used an array of lies and manipulative trading strategies to rig the stock market in Hwang’s favor. Hwang’s crimes brought him to the brink of staggering wealth before his fraud collapsed and left investors, banks, and even Hwang’s own employees with billions of dollars in losses. Today’s sentence sends a clear message that criminal manipulation schemes will be met with serious prison sentences.”
