Archegos' Bill Hwang sentenced to 18 years in prison for massive U.S. fraud [CNBC]
Paramount Global - Class A (PARAA)
Company Research
Source: CNBC
Hwang was 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. Archegos' March 2021 implosion took less than a week, stunning Wall Street and Hwang's lenders. The U.S. Attorney's office in Manhattan sought a 21-year prison term for Hwang - unusually long for a white-collar case — and for him to forfeit $12.35 billion and make restitution to victims. “It stands among a rare class of cases that truly could be described as a national calamity,” prosecutor Andrew Thomas said at the sentencing hearing before Hellerstein. Before sentencing Hwang, Hellerstein asked the defendant's lawyer, Dani James, how she thought Hwang compared to Sam Bankman-Fried, who was sentenced in March to 25 years in prison for stealing $8 billion from users of the now-bankrupt FTX exchange. “Mr. Bankman-Fried was literally stealing from his customers,” James said. “I do
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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
- 11/21/24 - Form 8-K
- 11/14/24 - Form 4
- 11/14/24 - Form 8-K
- PARAA's page on the SEC website