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"https://www.theguardian.com/business/2024/nov/20/sung-kook-hwang-criminal-charges"
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"Former billionaire investor Sung Kook ‘Bill’ Hwang sentenced to 18 years"
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"Hwang, 60, was convicted of 10 criminal charges, including wire fraud, securities fraud, and market manipulation, for lying to banks about Archegos's portfolio and borrowing money aggressively. The collapse of Archegos in March 2021 stunned Wall Street and resulted in losses for several banks, including Credit Suisse and Nomura Holdings. Hwang's lawyers argued for no punishment, citing his Christian faith and philanthropic efforts, but the judge sentenced him to 18 years in prison and ordered him to forfeit $12.35 billion."
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"content": "nostr:nprofile1qyd8wumn8ghj7ctjw35kxmr9wvhxcctev4erxtnwv4mhxqpq2qj8ax6yyu2udvjcpulpdnet77avt0ypz0tecyygevehtlxzkcrqtkfw9w\nhttps://i.guim.co.uk/img/media/5e6f5e9b2a508c57e1d6ad11e57ceb9cb3ad1ee0/0_173_6462_3876/master/6462.jpg?width=460\u0026quality=85\u0026auto=format\u0026fit=max\u0026s=ad39aa0cf4bdb6fc3f5a53412c48e94c\nJury had convicted Hwang on criminal charges over Archegos collapse, which cost Wall Street more than $10bnFormer billionaire investor Sung Kook “Bill” Hwang was sentenced to 18 years in prison on Wednesday over the collapse of Archegos Capital Management, which cost Wall Street banks more than $10bn.Hwang was sentenced by US district judge Alvin Hellerstein in Manhattan, where a jury convicted Hwang in July on 10 criminal charges including wire fraud, securities fraud and market manipulation. Continue reading...\nhttps://www.theguardian.com/business/2024/nov/20/sung-kook-hwang-criminal-charges",
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