A Billionaire's Big Blunder: Bill Hwang's Pardon Bid

Bill Hwang, once a titan in the investment world, is now seeking a pardon. The former head of Archegos Capital Management, which spectacularly imploded in 2021, is serving an 18-year prison sentence after being convicted in 2024 on charges including wire fraud, securities fraud, and market manipulation.

The Downfall of Archegos

• $10 Billion Loss: The collapse of Archegos left banks reeling with over $10 billion in losses.
• Deceptive Practices: Hwang was found guilty of lying to banks about his fund's portfolio, allowing him to borrow heavily for risky stock bets.
• Once a Giant: At its peak, Archegos managed $36 billion, but it all unraveled when Hwang couldn't meet margin calls.

Pardon Request in Limbo

• Submitted Last Year: Hwang applied for a pardon, with the U.S. Justice Department reviewing his request.
• President's Decision: The final call rests with the President, but it remains uncertain if Hwang will be granted clemency.
• Trump's Pardon Track Record: Since returning to office, President Donald Trump has pardoned several individuals, many of whom were white-collar criminals or political allies. Will Hwang be next?