Tiger Asia pleads guilty

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Sung Kook "Bill" Hwang was well-known as a Tiger Cub, that is, as a protege of sorts for Julian Robertson. Hwang's firm, Tiger Asia, unfortunately has been undone by federal prosecutors, who charged him with insider trading. He pleaded guilty this week on behalf of Tiger Asia Management. The firm was placed on one year's probation. Hwang himself was spared charges, but he agreed to settle parallel SEC charges for $44 million. He will be banned from the industry for five years. Article

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