Fraud

Judge gives former billionaire Bill Hwang 18 years in prison for crimes that outweigh his “lifetime” of “charitable works.”

In a case that alluded to the investor’s faith, a federal jury convicted Bill Hwang of market manipulation and defrauding banks.

Federal prosecutors are trying to prove that Bill Hwang committed massive market manipulation through his investment firm Archegos. His defense says he was trading like anyone else on Wall Street.

While a school supervisor called the case a “misunderstanding,” three directors have fled overseas.

Sarah Feinberg said she had the responsibility to do the right thing when she discovered fraud at her government contractor employer.

John Markley says he raised concerns about fraudulent management, enrollment rate misrepresentation, and “compensation schemes.”

A former director of Bill Hwang’s investment firm, seeking millions in compensation, said Grace and Mercy was used as a financial “escape pod.”

After a money laundering case and dozens of lawsuits, the Christian college founded by David Jang is under new scrutiny from Christian accreditors.

Bill Hwang is at the center of what white-collar crime experts see as Wall Street’s biggest indictment since Bernie Madoff.

Experts project fraud will cost Christian ministries $170 billion in 2050.