Former billionaire investor Sung Kook ‘Bill’ Hwang sentenced to 18 years

Jury had convicted Hwang on criminal charges over Archegos collapse, which cost Wall Street more than $10bn

The 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 $10bn.

Hwang was sentenced by US district judge Alvin Hellerstein in Manhattan, where a jury convicted Hwang in July on 10 criminal charges including wire fraud, securities fraud and market manipulation.