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Bill Hwang, Wall St. Investor In Major Media Stocks, Guilty Of Fraud And Market Manipulation
Investor Bill Hwang could get up to 20 years on each of 10 counts.
A jury in New York has found Wall Street investor Sung Kook ‘Bill’ Hwang guilty of fraud and market manipulation. Federal prosecutors said Hwang and some of his employees had misled the banks about the big positions that Archegos amassed in about a dozen stocks. Federal prosecutors in the Manhattan U.S. Attorney’s Office accused Hwang of driving up prices in a handful of media and tech stocks in Archegos’s portfolio.
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