Updated

A New York man has admitted fatally stabbing three members of a family in their New Jersey home in May 2008.

Kang-Hyuk Choi, of Valley Stream, N.Y., pleaded guilty Friday to three counts of murder and criminal weapons possession.

Choi admitted to killing 27-year-old friend Han-Il Kim in Kim's home in Tenafly, N.J., a New York City suburb, then waiting hours in Kim's room before killing his mother and uncle.

The Record newspaper (http://bit.ly/p2lEi8 ) reports that Choi told a judge he understood his actions were wrong. He spoke through a Korean interpreter.

Choi admitted stabbing Kim in a dispute over $30,000, then stabbing Kim's mother, Yoo Bok Kim, and Kim's 72-year-old uncle, Doo Soo Seo.

Choi could face 64 years in prison at his sentencing, which was set for Nov. 2.