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Archegos' Bill Hwang sentenced to 18 years in prison for massive US fraud

  • Bill Hwang was sentenced to 18 years in prison for his role in the Archegos Capital Management collapse, which cost Wall Street banks more than $10 billion.
  • U.S. District Judge Alvin Hellerstein noted that the losses caused by Hwang's conduct are larger than any other losses he has encountered.
  • Prosecutors described the case as a national calamity, attributing the stock value inflation to Hwang and his co-conspirators before the investments collapsed.
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