Former Wall Street exec Caspersen pleads guilty to massive fraud

July 7, 2016 00:30

Former Wall Street executive Andrew Caspersen pleaded guilty on Wednesday to charges that he tried to defraud investors including friends and family members out of nearly $150 million, conduct that his lawyer has blamed on a gambling addiction.

Caspersen, who worked at a unit of investment banker Paul Taubman's PJT Partners Inc prior to his arrest in March, pleaded guilty in federal court in Manhattan to charges of securities fraud and wire fraud.

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