Archegos founder Bill Hwang, formerly one of the wealthiest evangelical philanthropists, will spend 18 years in prison for business practices that led to more than $10 billion in losses to Wall Street banks in March 2021.
Read More
Earlier this month, billionaire trader and philanthropist Bill Hwang appeared in court to answer for his role in a high-stakes Wall Street meltdown that saw several large banks lose billions in days. Jury selection began last week, followed by opening statements and the first witness testimony on Monday. The trial is expected to last eight weeks.
Read More
(ANALYSIS) It would be smart for religion reporters, business reporters and education reporters to dig more into Canadian businessman Peter Chung and his involvement with King’s in the past two years as well as his other business ventures through Primacorp Ventures Inc. and the Emanata Group.
Read More
Bill Hwang was hailed as part of a new evangelical donor-class for donating nearly $80 million to dozens of evangelical ministries. But his fortune — which, it turned out, was based on lies, heavy borrowing and risky stock bets — blew up in March 2021, when he was unable to pay creditors. Hwang was arrested April 27, 2022.
Read More