Meyer Wilson previously reported on Andrew Caspersen (CRD# 6149640) this April when he was charged with defrauding two institutional investors.
Now, former Park Hill Group LLC broker Andrew Caspersen (CRD# 6149640) has pleaded guilty to wire fraud and securities fraud.
The United States Securities and Exchange Commission (SEC) charged him with defrauding two institutions solicited in order to invest in a shell company controlled by Caspersen. While reading through his prepared statement in court, Caspersen admitted that the fraud, “was just a way for me to get money to feed a gambling addiction that was all-consuming at the time.” According to Caspersen’s lawyer, his client had lost nearly $113 million through gambling on stock-option trades over a four week stretch earlier this year.
According to the SEC, he solicited around $95 million from investors by creating fake email addresses, invented fictional financiers, set up misleading domain names, and claimed that investors would see a 15 to 20 percent return on investment in interest. Caspersen will be sentenced on November 2, 2016 by U.S. District Judge Jed Rakoff.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
If you lost money investing with former Park Hill Group broker Andrew Caspersen, contact the securities fraud at attorneys at Meyer Wilson for a free case consultation today. All of our cases are handled on a contingency fee basis, so you won’t owe us any legal fees unless we can help you recover your losses.
Recovering Losses Caused by Investment Misconduct.