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Hedge fund founded by Tenafly man pleads guilty in insider-trading case

North Jersey – A Tenafly man pleaded guilty Wednesday on behalf of his international hedge fund management company to federal wire fraud charges in an insider trading scheme, agreeing to criminal and civil settlements totaling $60 million.

Sung Kook “Bill” Hwang, the founder and CEO of the New York-based Tiger Asia Management LLC, entered the guilty plea during a hearing in Newark before U.S. District Judge Stanley R. Chesler.

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