{
}
Bill Hwang, founder of Archegos Capital Management, has been sentenced to 18 years in prison for fraud and market manipulation following the fund's collapse in 2021, which affected major banks like Credit Suisse and Nomura. Hwang was convicted on ten counts after misleading banks to finance risky investments, leading to a staggering $160 billion market exposure. A hearing regarding potential compensation is set for Thursday, while the former CFO, Patrick Halligan, awaits sentencing on January 27.
Bill Hwang, founder of Archegos Capital Management, faces a potential 21-year prison sentence for orchestrating a market manipulation scheme that led to over $10 billion in losses for lenders. Convicted of multiple felonies, including securities fraud, Hwang's lack of remorse and history as a repeat offender have influenced the prosecution's demands, which also include the forfeiture of $12.35 billion for victim compensation. An appeal is anticipated as Hwang's defense argues against the necessity of a prison term, citing insufficient evidence linking his actions to the financial fallout.
Patrick Halligan
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bill hwang sentenced to 18 years for archegos fraud and market manipulation
United States Dollar
Euro
Credit Suisse
Nomura Holdings, Inc.
ViacomCBS
USA
Patrick Halligan
Bill Hwang
Luc Cohen
Jonathan Stempel
Show more
09:26 21.11.2024
bill hwang faces 21 years in prison for market manipulation and fraud
United States Dollar
Credit Suisse
Nomura Holdings, Inc.
USA
JPN
Bill Hwang
Kook Hwang
Patrick Halligan
Show more
10:11 18.11.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Global Trade Developments
Global Financial Events
Central Bank Actions
Banking Regulations
Retail and Consumer Goods
Finance Mergers & Acquisitions
Industry Mergers & Acquisitions
Startups & Entrepreneurship
Inflation and Monetary Impact
Government Economic Policies
CEO Changes
Domestic Politics
Market Analysis and Predictions
Workplace Trends
Government Policies
Supply Chain Management
GDP Growth & Recession Forecasts
Countries:
Companies:
Tesla, Inc.
Apple Inc.
Barclays PLC
JPMorgan Chase & Co.
Deutsche Bank Money Market PP
Credit Suisse Strategic Income I
The Goldman Sachs Group, Inc.
Berkshire Hathaway Inc.
UBS Group AG
BNP Paribas SA
Banco Santander, S.A.
Lloyds Banking Group plc
SpaceXCoin USD
Bank of America Corporation
Jenoptik AG
Air France-KLM
Amazon.com, Inc.
NVIDIA Corporation
Infineon Technologies AG
Banco BPM S.p.A.
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Chinese Yuan
Canadian Dollar
Vietnamese Đồng
South Korean Won
Australian Dollar
Thai Baht
Indonesian Rupiah
Singapore Dollar
Mexican Peso
Hong Kong Dollar
Offshore Chinese Yuan
New Zealand Dollar
Cambodian Riel
Myanmar Kyat
People: