Tiger Asia fund manager charged with insider trading

Wed Dec 12, 2012 2:25pm EST

Dec 12 (Reuters) - Sung Kook "Bill" Hwang, who ran a hedge fund focused on Asian stocks, agreed on Wednesday to settle insider trading charges over illicit trading in three Chinese bank stocks, according to the U.S. Securities and Exchange Commission.

Hwang and his funds, Tiger Asia Management and Tiger Asia Partners, which were seeded by fund guru Julian Robertson, agreed to pay $44 million to settle the civil charges, according to an SEC statement.

According to the SEC, prosecutors in New Jersey filed parallel criminal charges against Tiger Asia Management.

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