(Reuters) - Archegos Capital Management founder Sung Kook "Bill" Hwang was convicted of fraud and other charges on Wednesday at a criminal trial in New York in the wake of the 2021 collapse of his $36 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 prominent 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 $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.
"Bernie, up until his death, lived with guilt and remorse for his crimes," Madoff's lawyer Brandon Sample said in a statement upon his client's death.
SAM BANKMAN-FRIED
FTX founder Bankman-Fried was sentenced in March to 25 years in prison for stealing $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 pleaded not guilty. His lawyers have argued that while Bankman-Fried overlooked risk management, he did not steal customer money. Bankman-Fried appealed his conviction and prison sentence in April.
JORDAN BELFORT
Belfort lived a hard-partying, hedonistic lifestyle before being arrested for defrauding investors out of as much as $200 million via his brokerage Stratton Oakmont. He pleaded guilty to securities fraud and money laundering in 1999, and spent 22 months in prison. Belfort is now a motivational speaker and media commentator, and offers sales consulting services.
Oscar-winning director Martin Scorsese plumbed Belfort's descent in the 2013 movie "The Wolf of Wall Street," which was based on Belfort's memoir and starred Leonardo DiCaprio.
"The best lesson of everything about my story ... is that it sort of represents the best of what you can do with the gifts that gods give you, and also the worst you can do, also with the frailties that gods give you," Belfort told Reuters in 2011.