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Andrew W.W. Caspersen pleads guilty after charged with $150 million fraud

Staff Writer |
Andrew W.W. Caspersen, a former Wall Street executive charged with masterminding a $150 million fraud, pleaded guilty to stealing millions from investors to place risky stock market bets.

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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.

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