
Archegos Capital Management founder and chief executive Sung Kook “Bill” Hwang could land in prison for the rest of his life on charges related to the 2021 collapse of his $36 billion private investment firm.
On Wednesday, a jury found Hwang guilty on 10 counts of a range of fraud charges and market manipulation ahead of the firm’s default, which lost several big Wall Street banks billions of dollars and contributed to Credit Suisse’s demise.
Patrick Halligan, the former chief financial officer of Archegos, was also convicted on three charges, including conspiracy, securities fraud, and wire fraud.
The two, who remain free on bail, are set to appear for sentencing on October 28. Each count against them carries a maximum sentence of 20 years in prison. Click through to see how long some of the biggest U.S. fraudsters have served — or are currently serving — in prison.