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Bill Hwang Sentenced to 18 Years in Prison in $36B Family Office Case
News November 21, 2024 at 01:06 PM
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What You Need To Know
- His conviction for fraud and market manipulation was tied to collapse of Archegos Capital Management.
- He was found guilty of orchestrating a scheme to mislead his bank counterparties into providing Archegos with billions of dollars in trading capacity that inflated the value of his portfolio.
- Archegos fell into a fatal spiral after a March 2021 selloff in Viacom shares prompted billions of dollars in margin calls.
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