Andrew W.W. Caspersen pleads guilty after charged with $150 million fraud
Caspersen pleaded guilty to two criminal counts in Manhattan federal court and admitted to stealing some $38.5 million from family members and close friends, while soliciting other investors for millions more.
Caspersen said his crimes were committed to fuel a gambling addiction and that virtually all of the stolen money had been gambled away. He will be sentenced at a later date. ■