Published On: March 30, 2016

Andrew Caspersen, a former managing principal at financial services firm Park Hill Group was arrested on charges that he engaged in a $95 million scheme to defraud investors. Caspersen was named in a criminal complaint filed in federal court in Manhattan that charged him with securities fraud and wire fraud. The U.S. Securities and Exchange Commission (SEC) also filed a civil lawsuit, accusing him of engaging in the fraud using a shell company he controlled whose name was similar to that of Irving Place Capital private equity fund. Park Hill Group terminated Caspersen and he was arrested on Saturday. He appeared in federal court yesterday. Caspersen allegedly obtained $25 million from a foundation affiliated with a New York hedge fund and from one of the fund’s employees by claiming their investment would be secured by $900 million of assets of Irving Place Capital Partners III SPV. Instead, he used the funds for himself, trading securities in his personal brokerage account and lost the money due to aggressive options trading. Before his arrest, Caspersen sought another $20 million from the same foundation and $50 million from another New York private equity firm.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltman Law Securities and Investment Fraud Attorneys