Prosecutors Seek 21-Year Sentence for Archegos Founder Bill Hwang

Hwang faces sentencing for orchestrating a massive market manipulation scheme that led to significant financial losses.

Hwang was convicted on 10 charges, including securities fraud, wire fraud, and racketeering conspiracy.
Prosecutors are demanding a $12.35 billion forfeiture and restitution to victims.
This case marks one of the longest proposed sentences for white-collar crime in the U.S.
Hwang's lawyers argue for no prison time, citing his age, health, and philanthropic efforts.
The collapse of Archegos in 2021 led to over $10 billion in losses for major banks.