Archegos' Bill Hwang to be sentenced for massive US fraud [Yahoo! Finance]
Paramount Global - Class A (PARAA)
Company Research
Source: Yahoo! Finance
of Archegos Capital Management, which cost Wall Street banks more than $10 billion. Hwang will be sentenced by U.S. 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. Prosecutors are seeking a 21-year prison term, and for Hwang to forfeit $12.35 billion and make restitution to victims. Hwang asked for no prison, forfeiture or restitution. He also wants to remain free on bail while he appeals his conviction, saying he is not a flight risk or threat to the community. The March 2021 collapse of Archegos took less than a week, stunning Hwang's lenders and marking the fall from grace of the protege of late hedge fund billionaire Julian Robertson. Hwang, 60, whose given name is Sung Kook Hwang, set up Archegos in New York as a family office in 2013, the year after his former hedge fund Tiger Asia Management pleaded guilty to wire fraud in an insider-trading case.
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News
- Connie Nielsen on returning to "Gladiator" after 24 years: "I was nervous" [CBS News]CBS News
- Archegos' Bill Hwang sentenced to 18 years in prison for massive U.S. fraud [MSNBC.com]MSNBC.com
- Archegos founder Bill Hwang sentenced to 18 years for fraud that cost global investment banks billions [Fortune]Fortune
- Archegos’ Bill Hwang sentenced to 18 years in prison for massive U.S. fraud [MSNBC.com]MSNBC.com
- Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud [Yahoo! Finance Canada]Yahoo! Finance Canada
PARAA
Earnings
- 11/8/24 - Beat
PARAA
Sec Filings
- 11/14/24 - Form 4
- 11/14/24 - Form 8-K
- 11/12/24 - Form 144
- PARAA's page on the SEC website