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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 fraud, costing global banks over $10 billion.
  • Hwang was convicted of 10 counts, including six of market manipulation, but acquitted of one.
  • Judge Alvin Hellerstein noted the losses were larger than any he had seen before.
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