TMTPOST -- Bill Hwang, the founder of Archegos Capital Management, has been sentenced to 18 years in prison on charges of securities fraud and market manipulation. His actions triggered significant financial losses for major banks and caused widespread market disruptions. The collapse of Archegos in March 2021 led to more than $10 billion in losses for global financial institutions, including Credit Suisse and Nomura. Hwang was found guilty of multiple charges, including wire fraud and securities fraud. While prosecutors had initially sought a 21-year sentence, the court ultimately handed down an 18-year prison term.  Hwang’s fraudulent schemes involved manipulating trading strategies to inflate his personal wealth from $2 billion to $30 billion before Archegos imploded. The presiding judge underscored the need for a stern sentence to deter similar actions in the financial sector. The case has spurred significant reforms in risk management and due diligence practices across major Wall Street banks, underscoring the critical importance of transparency and accountability in financial operations.