Frost, a 46-year-old from Asbury Park, didn't show emotion as the verdict was read, even as tears filled the eyes of Chhieng's relatives.
Authorities say he was a victim of a plot by Frost and others to rob someone to get money to pay drug suppliers.
Benny Matthews has pleaded guilty to aggravated manslaughter and other charges related to the killing. Another suspect, Sharif Bass, is still awaiting trial.
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