US Says Bill Hwang Deserves 21-Year Sentence for Archegos Collapse

Nov 16, 2024, 04:50 AM

Prosecutors have recommended a 21-year prison sentence for Bill Hwang, the founder of Archegos Capital Management, for fraud and market manipulation. The US says Hwang deserves this sentence for his actions that led to the collapse of Archegos in 2021, causing significant financial losses across Wall Street. The sentencing is scheduled for next week.