Archegos’ Bill Hwang sentenced to 18 years in prison for massive U.S. fraud [MSNBC.com]
Paramount Global - Class A (PARAA)
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Source: MSNBC.com
Former billionaire investor Sung Kook “Bill” Hwang was sentenced to 18 years in prison on Wednesday over the collapse of Archegos Capital Management, which cost Wall Street banks more than $10 billion.Hwang was sentenced by U.S. District Judge Alvin Hellerstein in Manhattan, where a juryconvicted“The amount of losses that were caused by your conduct are larger than any other losses I have dealt with,” Hellerstein said before announcing the sentence.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.Hellerstein did not reach a decision on Wednesday on whether Hwang must forfeit money or p
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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 hedge fund founder Bill Hwang gets 18 years in prison for massive fraud [Yahoo! Finance Canada]Yahoo! Finance Canada
- 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