Archegos Capital Management founder Sung Kook "Bill" Hwang was convicted of fraud and other charges. The charges have the potential to see him sent to prison for up to 20 years.
Hwang's misdeeds are estimated to have cost banks around US$10bn. So, if the sentencing judge is a retail FX trader Hwang will probably get off with a warning ;-)
Getting on with the post ....
Reuters have a summary take up with a list of famous Wall Street folks sent to prison:
- FTX founder Sam Bankman-Fried
- Jordan Belfort
- Benie Madoff
and more.
