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SEC Charges Securities Professional With Defrauding Investors

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.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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