On Monday, the Securities and Exchange Commission charged a New York stockbroker
with defrauding two institutional investors. According to the allegations,
Andrew W.W. Caspersen, who is registered with the brokerage firm of Park
Hill Group LLC, solicited approximately $95 million from two institutional
investors, allegedly offering promissory notes issued by a shell company
that he owned, Irving Place III SPV LLC. The name allegedly deceived investors
into thinking it was a legitimate private equity fund.
Caspersen is also facing criminal charges from the U.S. Attorney’s
Office for the Southern District of New York.
The Director of the SEC’s New York Regional Office, Andrew M. Calamari,
made the following statement,
As alleged, Caspersen engaged in a brazen fraud by raising money under
false pretenses and simply stealing the funds. This action amply demonstrates
that even sophisticated institutional investors are not immune to financial scams.
The SEC is seeking a return of Caspersen’s alleged improper gains
plus interest, monetary fines, and a permanent injunction.
At Meyer Wilson, our securities fraud attorneys are dedicated to helping
defrauded investors recover their losses. If you invested money with Andrew
W.W. Caspersen, reach out to our firm to discuss your options.