Allegedly Fraudulent Investment Banker Charged For Stealing $25 Million

[kreslik.news]

Andrew Caspersen, a banker accused of stealing $25 million, seemed to have it all. Scion of a family that built and sold a finance company for billions, Caspersen was until Monday a managing director at PJT Partners Inc. earning over $3 million a year, helping private-equity funds restructure.

Caspersen is now out of work having been charged with what federal prosecutors have described as a brazen fraud. According to the Manhattan U.S. attorney’s office, Caspersen invented a fake “credit facility” that promised high returns and duped a hedge-fund manager into wiring him millions last year, most of it from a charitable foundation. ... (read more)