Archive · 22 Jan 2026
Bill Hwang seeks pardon for Archegos fraud
Bill Hwang was a rich investor who ran a company called Archegos.
He borrowed a lot of money from banks to buy stocks, but when the stocks didn't do well, he couldn't pay the money back.
This caused his company to collapse and cost the banks over $10 billion.
He was found guilty of cheating and lying to the banks and was sentenced to 18 years in prison.
Now, he has asked the president to forgive him and let him out of prison early.
Bill Hwang, founder of Archegos Capital Management, sought a presidential pardon for his conviction in the collapse of his fund.
Archegos collapsed in 2021, costing Wall Street banks over $10 billion due to Hwang's failure to meet margin calls.
Hwang was convicted in 2024 on multiple charges including wire fraud, securities fraud, and market manipulation.
He was sentenced to 18 years in prison and applied for a pardon after completion of sentence.
The President has the final say on all pardon requests, which can take months or years to process.
- Who
- Bill Hwang, founder of Archegos Capital Management
- What
- Sought a presidential pardon for his conviction in the collapse of Archegos Capital Management
- When
- Collapse in 2021, conviction in 2024, pardon request applied for in 2024
- Where
- United States
- Why
- To potentially reduce or eliminate his 18-year prison sentence for fraud and other charges
- Bill Hwang
- Founder of Archegos Capital Management
- Archegos Capital Management
- Family office that managed $36 billion before collapse
- Collapse
- 2021, due to failure to meet margin calls
- Conviction
- 2024, on charges including wire fraud, securities fraud, and market manipulation
- Sentence
- 18 years in prison
- Pardon Request
- Applied for pardon after completion of sentence in 2024
- Banks Affected
- Cost Wall Street banks more than $10 billion