Tiger Asia Pays $60M To End DOJ, SEC Insider Trading Probes

Law360, New York (December 12, 2012, 5:33 PM EST) -- Billion-dollar international hedge fund Tiger Asia Management LLC pled guilty to civil and criminal charges of insider trading in New Jersey federal court Wednesday, agreeing to pay a combined $60 million in disgorgement and penalties for using insider information to short Chinese bank stocks. 

Tiger Asia founder Sung Kook “Bill” Hwang, 48, pled guilty to one criminal count of wire fraud on behalf of the company, according to the U.S. Department of Justice. U.S. District Judge Stanley R. Chesler sentenced the company to one year of...
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