The Globe and Mail reports in its Thursday edition that former billionaire Sung Kook (Bill) Hwang was sentenced to 18 years in prison on Wednesday over the collapse of Archegos Capital Management, which cost Wall Street banks more than $10-billion (U.S.). A Reuters dispatch to The Globe says that Mr. Hwang was sentenced by U.S. District Judge Alvin Hellerstein in Manhattan, where a jury convicted Mr. Hwang in July on 10 criminal charges including wire fraud, securities fraud and market manipulation. "The amount of losses that were caused by your conduct are larger than any other losses I have dealt with," Justice Hellerstein said before announcing the sentence. Archegos's March, 2021, implosion took less than a week, stunning Wall Street and Mr. Hwang's lenders. The U.S. Attorney's office in Manhattan sought a 21-year prison term for Mr. Hwang -- unusually long for a white-collar case -- and for him to forfeit $12.35-billion (U.S.) and make restitution to victims. "It stands among a rare class of cases that truly could be described as a national calamity," prosecutor Andrew Thomas said at the sentencing hearing before Justice Hellerstein. Justice Hellerstein did not reach a decision Wednesday on restitution.