Andrew Caspersen Pleads Guilty to Defrauding Investors
Meyer Wilson’s securities fraud attorneys have been investigating claims against Andrew W.W. Caspersen (CRD# 6149640), formerly a broker at Park Hill Group LLC since April.
We previously reported on former Park Hill Group LLC broker Andrew W.W. Caspersen (CRD# 6149640) in April. Caspersen was dismissed from Park Hill Group on March 28, 2016. On July 6, he pled guilty to defrauding investors of more than $38 million and misappropriating more than $8 million from his former employer, according to prosecutors. During the July 6 court appearance, Caspersen admitted that he committed the fraud due to an out of control gambling habit. He prepared a statement where he admitted that while he claimed to investors that their investment would bring them 15 to 20 percent in interest:
<blockquote> “There was no real investment opportunity. It was just a way for me to get money to feed a gambling addiction that was all-consuming at the time." </blockquote>
Prosecutors pushed for a prison terms of at least 12 and a half years, and United States District Judge Jed Rakoff will deliver his final sentence on November 2.
You can learn more about the brokers the investment fraud attorneys are investigating by visiting our Investment Fraud Law Blog, and if you lost money after making investments with former Park Hill Group LLC broker Andrew Caspersen, contact us today to tell us more about your situation. Because our attorneys handle all cases on a contingency fee basis, you won’t owe any legal fees until we assist you in recovering your lost funds.