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		</div><h6><strong> <span class="caption-text">Shannon Gulliver, Sam Caspersen’s fiancée; Sam Caspersen; Barbara Caspersen; Andrew Caspersen; Christina Caspersen; and Finn M.W. Caspersen Jr.</span> <span class="credit"> <span class="visually-hidden">Credit</span> Martha Stewart </span></strong></h6>
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<h3><span style="color:#360909;">Andrew Caspersen, 39, charged with defrauding investors of $25million and trying to get $95million Partner in PJT Partners<br />
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<h3><span style="color:#360909;">Princeton and Harvard Law educated executive scammed clients into investing in non-existent portfolios<br />
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<h3><span style="color:#360909;">Created and made up web domain and emails to support fake investments</span></h3>
<h3><strong><span style="color:#360909;">Put $25million in a personal account and lost it all on risky trades</span></strong></h3>
<h3><strong><span style="color:#360909;">Arrested on Saturday at an airport out on $5million bail</span></strong></h3>
<h3><strong><span style="color:#360909;">Terminated from his job at PJT partners who claim they are &#8220;<em>stunned and outraged.&#8221; F</em>aces up to 40 years in prison</span></strong></h3>
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<p><span style="font-size:1.2em;">An Ivy League-educated former executive at a New York investment bank was arrested Monday on charges he tried to defraud investors of more than $95 million as he led what a prosecutor called a &#8216;shameful charade&#8217; to cover his tracks.</span></p>
<div class="mol-para-with-font"><span style="font-size:1.2em;">Prosecutors said Andrew Caspersen, 39, only got away with $25 million, which he then lost. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">He was charged in Manhattan federal court with securities and wire fraud after his Saturday arrest and released on bail.</span><b> </b></div>
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<div class="mol-para-with-font"><span style="font-size:1.2em;">He&#8217;s accused of scamming clients of PJT Partners Inc. into investing millions of dollars in sham private equity investments from July through March. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">After an initial court appearance, he was released on $5 million bail, ordered by the judge to have a psychological evaluation and left court holding hands with his wife.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">Dan Levy, a lawyer for Caspersen, declined comment outside court.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">Caspersen has homes in New York City and suburban Bronxville, New York. </span></div>
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<div class="imageCaption"><span style="font-size:small;"><b><img class="alignnone size-full wp-image-25856" src="https://konniemoments.com/wp-content/uploads/2016/03/andrewcasperson7.png" alt="andrewcasperson7" width="583" height="586" /><br />
Caspersen&#8217;s father Finn, pictured, a noted philanthropist, killed himself with a gunshot to the head in 2009</b></span></div>
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<div class="mol-para-with-font"><span style="font-size:1.2em;">He is the son of Finn M.W. Caspersen, who was a prominent philanthropist and former chief executive of the financial services firm Beneficial Corp. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">The elder Caspersen, once worth hundreds of millions of dollars, was found dead in 2009 of a self-inflicted gunshot in a Rhode Island beach community where he had a home.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">The family also had homes in Jupiter Island, Florida, and the horse country of New Jersey. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">That shocking suicide was the subject of a 2010 Vanity Fair article, which detailed his life of privilege and excess &#8211; even riding horses with the royals at Windsor castle.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">PJT Partners released a statement saying it was &#8216;stunned and outraged&#8217; to discover the fraud while Caspersen was a partner in its Park Hill Group.</span></div>
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<p>It said it referred the matter to federal prosecuters after learning fact suggesting improper behavior.</p>
<p><img class="alignnone size-full wp-image-25847" src="https://konniemoments.com/wp-content/uploads/2016/03/andrewcaspersen5.jpg" alt="PJT Partners Inc.'s Park Hill Group Former Managing Director Andrew Caspersen Charged in $95 Fraud" width="687" height="449" /></p>
<h6><strong>&#8216;To advance his $95 million fraud scheme, Caspersen allegedly put on a shameful charade — creating fake email addresses, setting up misleading domain names, and inventing fictional financiers,&#8217; U.S. Attorney Preet Bharara said in a press statement.</strong></h6>
<div class="mol-para-with-font"><span style="font-size:1.2em;">&#8216;When confronted by a suspicious client who had invested $25 million,The sham investment for which money was solicitied was an entity called Irving Place III SPV, which was intentionally similar to Irving Place Capital Partners III SPV, which is an legitimate private-equity fund.</span></div>
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<div class="mol-para-with-font"><span style="font-size:1.2em;">The Securities and Exchange Commission also filed civil charges against Caspersen, seeking a return of ill-gotten gains with interest and monetary penalties. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">It said that after graduating from Princeton University in 1999 and Harvard Law School in 2002, Caspersen was a principal at a private equity firm in London before he became a managing principal in January 2013 at the New York firm.</span></div>
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<div class="mol-para-with-font"><span style="font-size:1.2em;">&#8216;As alleged, Caspersen engaged in a brazen fraud by raising money under false pretenses and simply stealing the funds,&#8217; said Andrew M. Calamari, director of the SEC&#8217;s New York Regional Office. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">&#8216;This action amply demonstrates that even sophisticated institutional investors are not immune to financial scams.&#8217;</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">Prosecutors said Caspersen fraudulently solicited investors by promising investments would be safe, all while he converted their money to his own use without their authorization.</span></div>
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<div class="overlay-icon mobile-gallery"><span style="font-size:x-small;"><i>Photo: Reuters</i></span></div>
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<p><span style="font-size:small;"><b>If convicted, Caspersen could face up to 40 years in prison. He was released on $5million bail</b></span></p>
<div class="mol-para-with-font"><span style="font-size:1.2em;">They said he used a portion of nearly $25 million from a charitable foundation to trade securities in his personal brokerage account, only to lose most of the money through aggressive options trading. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">He used the rest to cover losses from money he had already allegedly stolen. </span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">The foundation has not gotten back any of the money, prosecutors added.</span></div>
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<div class="mol-para-with-font"><span style="font-size:1.2em;">Before his arrest, Caspersen tried to solicit an additional $20 million from the same charitable foundation and a $50 million investment from another multinational private equity firm headquartered in New York, the government said.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">He was arrested on March 26 at New York&#8217;s Laguardia&#8217;s airport.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">If convicted of both charges, Caspersen could face up to 40 years in prison.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">Caspersen is the youngest of four sons, all of whom graduated Harvard Law. Their father donated $30million to the school, also his alma mater, a few years before his death.</span></div>
<div class="mol-para-with-font"><span style="font-size:1.2em;">He lost his college girlfriend in the World Trade Center on 9/11, and spoke movingly of her in the New York Times Portraits of Grief in October 2001. His brother Sam provided legal counsel to the 9/11 Commission. He has since married.</span></div>
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Scion of promininent NY family: Harvard Law and Princeton educated banker accused of masterminding $95million fraud scheme – and losing it all
