Archegos' Bill Hwang to be sentenced for massive US fraud [Yahoo! Finance Canada]
Paramount Global - Class A (PARAA)
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Source: Yahoo! Finance Canada
FILE PHOTO: Sung Kook (Bill) Hwang, the founder and head of the private investment firm Archegos, arrives for his trial at the Manhattan Federal Courthouse in New York City Reuters 3 min read NEW YORK (Reuters) - Former billionaire investor Bill Hwang could face a long stay in prison after he is sentenced on Wednesday over the collapse 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 wee
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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
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- 11/8/24 - Beat
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Sec Filings
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- 11/14/24 - Form 8-K
- 11/12/24 - Form 144
- PARAA's page on the SEC website