Banker Accused of $25 Million Fraud Arose From Gilded Legacy

From Bloomberg Business

Andrew Caspersen, the banker accused of stealing $25 million, seemed to have it all, at least on paper.

Scion of a family that built and sold a finance company for billions, Caspersen went from Princeton University to Harvard Law School, where students can read rare books in the Caspersen Room or study in the Caspersen Student Center. Until Monday, he was a managing director at PJT Partners Inc. He earned more than $3 million a year, prosecutors said in court, helping private-equity funds restructure.

Now Caspersen, 39, is out of work and charged with what federal prosecutors describe as a brazen fraud. 

Read the full article.