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Archegos' Bill Hwang sentenced to 18 years in prison for massive US fraud

  • Bill Hwang, founder of Archegos Capital Management, was sentenced to 18 years in prison for securities and market manipulation fraud, causing over $10 billion in losses.
  • U.S. District Judge Alvin Hellerstein stated that the losses from Hwang's actions were larger than any other losses he had dealt with.
  • Hwang was convicted in July on 10 criminal charges, including wire fraud and securities fraud, related to the 2021 failure of his investment fund.
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