Archegos’ Bill Hwang deserves 21 years in prison, US says By Reuters
By Jonathan Stempel NEW YORK (Reuters) – Bill Hwang, the founder of Archegos Capital Management, should spend 21 years in prison for running a market manipulation scheme that wiped out his $36 billion firm and cost its lenders more than $10 billion, federal prosecutors said on Friday. Hwang, 60, faces a scheduled Nov. 20 sentencing in Manhattan federal court after being convicted in July on 10 criminal charges including securities