Bill Hwang’s Bid to Reduce 18-Year Prison Term Is Rejected
- Hwang wanted to spend a third of sentence under house arrest
- Judge also ordered Hwang to pay $9 billion to bank victims
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A federal judge confirmed an 18-year prison sentence for Archegos Capital Management founder Bill Hwang, rejecting arguments that he should be allowed to spend a third of that time in the comfort of his own home.
At a hearing Thursday in New York, US District Judge Alvin Hellerstein said Hwang’s request to adjust his sentence to 11 1/2 years in prison, followed by 6 1/2 years in home confinement was ultimately impractical.