Odaily Planet Daily News: Bill Hwang, founder of Archegos Asset Management, was criminally charged for his company's bankruptcy in 2021. The two-month trial ended on Wednesday, and the U.S. jury pronounced a guilty verdict against Bill Hwang and co-defendant, Chief Financial Officer Patrick Halligan. Bill Hwang, 60, pleaded not guilty to one count of conspiracy to defraud, three counts of fraud and seven counts of market manipulation, but was convicted of 10 of the 11 charges. Now, each of the charges convicted faces up to 20 years in prison, although any sentence may be much lower. According to prosecutors, Bill Hwang secretly accumulated huge shares of several companies without actually holding the stocks. Archegos' market position once swelled to $160 billion because they adopted a deceptive trading strategy to conceal their true size from the market. The use of borrowing and derivative securities that do not need to be publicly reported allowed Bill Hwang and his hedge fund to remain anonymous. Archegos collapsed in March 2021, as Wall Street scrambled to liquidate positions tied to the firm. When the dust settled, it caused more than $10 billion in losses to counterparties including Credit Suisse Group AG, Morgan Stanley and Nomura, which also laid the groundwork for Credit Suisse’s bankruptcy.