Archegos Capital Management founder Bill Hwang will be sentenced Wednesday for fraud and market manipulation tied to the stunning 2021 collapse of his $36 billion family office, capping a case that riveted Wall Street.
Prosecutors have recommended that Hwang, 60, spend more than two decades behind bars, while his lawyers have asked that he be given no prison time at all. The government also wants Hwang to pay $10 billion in restitution, though his lawyers said Monday that he is now worth only around $55 million.