featured-image

(Clockwise from top left) Bernard Madoff, Sam Bankman-Fried, Jordan Belfort and Bill Hwang. WASHINGTON - Archegos Capital Management founder Bill Hwang was convicted of fraud and other charges on July 10 at a criminal trial in New York in the wake of the 2021 collapse of his US$36 billion (S$48.6 billion) private investment firm.

Each of the charges against Hwang, who had pleaded not guilty, carries a potential penalty of 20 years in prison. He will be sentenced at a later date. Here is a look at other famous Wall Street figures who have been sentenced to prison time.



Bernard Madoff Madoff pleaded guilty in 2009 to running the largest-known Ponzi scheme in history, estimated as high as US$64.8 billion. For decades, Madoff presented himself as a successful and trusted Wall Street kingpin, attracting high-profile and celebrity investors while secretly engaging in fraud.

Madoff died at age 82 in 2021 while serving a 150-year prison sentence. Sam Bankman-Fried FTX founder Bankman-Fried was sentenced in March to 25 years in prison for stealing US$8 billion from customers of his cryptocurrency exchange, a dramatic downfall for the former billionaire wunderkind. While FTX, which was based in the Bahamas, was not a traditional Wall Street firm, prosecutors accused Bankman-Fried of old-fashioned financial fraud - using customer assets to purchase luxury properties, as well as to prop up his hedge fund and to make political donations.

Bankman-Fried appealed his conviction and prison se.

Back to Fashion Page