Founder of Archegos Capital Management Bill Hwang, center, exits Manhattan federal court after being sentenced on Wednesday, Nov. 20. He is joined by his attorney, Barry Berke of Gibson Dunn. Photo: Yuki Iwamura/Bloomberg'A National Calamity': US Judge Says Archegos Founder Bill Hwang Should Get 18-Year Sentence for Fraud, Market Manipulation
Senior U.S. District Court Judge Alvin Hellerstein deferred ruling on restitution and ordered the parties to return to court on Thursday to discuss forfeiture.
November 20, 2024 at 06:43 PM
4 minute read
Senior U.S. District Court Judge Alvin Hellerstein on Wednesday said Archegos founder Sung Kook "Bill" Hwang on Wednesday should be sentenced to 18 years in prison for defrauding banks and manipulating stock prices ahead of his firm’s collapse.
Hellerstein deferred a ruling on restitution and then adjourned the day-long sentencing hearing just after 4 p.m. without making a decision about forfeiture.
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