Ex-Archegos Risk Head Who Testified Against Hwang Avoids Prison

Archegos Capital Management’s former chief risk officer avoided prison for his role in the firm’s meltdown after testifying against founder Bill Hwang at a fraud and market manipulation trial that riveted Wall Street.

Scott Becker, one of two star cooperating witnesses who took the stand last year against Hwang and former Archegos chief financial officer Patrick Halligan, was sentenced Wednesday to three years’ probation. Becker told jurors at the trial he was instructed to lie to Archegos’ Wall Street counterparties about the firm’s portfolio and cash position.

“I lied to banks to induce them to make loans ...