A Wall Street Golden Boy Blames Gambling Addiction for $100 Million Fraud

From the Wall Street Journal

Groomed at some of the country’s most elite private schools, Andrew Caspersen glided onto Wall Street with ease. His father was a well-known financier, and Caspersen followed in his footsteps. He snagged jobs in the close-knit private equity world, earning a salary of more than $3.68 million in 2015.

So when Caspersen called friends and family members last year with an investment opportunity, no one, it seems, blinked an eye. The 39-year-old quickly collected tens of millions from those closest to him, including his mother and brothers, as well as Wall Street insiders familiar with his pedigree.

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