Bill Hwang’s Lawyers Suggest No Prison Time in Archegos Case (2)

Bill Hwang should get no prison time for his role in the 2021 collapse of Archegos Capital Management, his lawyers said in a court filing.

Hwang, 60, will be sentenced Nov. 20 for fraud, market manipulation and racketeering conspiracy. He was convicted in July following a two-month trial that captivated Wall Street. He faces a maximum of 20 years in prison on each count.

A jury found that Hwang orchestrated a scheme to mislead banks into providing Archegos, his family office, with trading capacity that swelled its highly concentrated portfolio to $36 billion in value before it imploded in ...