Andrew Caspersen

Andrew Caspersen, the disgraced scion of a wealthy Wall Street family, was sentenced in November 2016 to four years in prison for robbing his friends, family members and a large hedge fund foundation in a Ponzi-like scheme. Mr. Caspersen, 40, who pleaded guilty this summer, had sought to lessen his sentence by arguing he suffers from a severe gambling addiction that compelled him to make high-stake trades in the options market. Most of Mr. Caspersen’s victims were family members and friends. Many were fleeced out of a few million dollars for fraudulent investment schemes devised by the former Wall Street executive. His single biggest victim was the charitable foundation tied to the hedge fund led by Louis Bacon, which gave nearly $25 million to one of Mr. Caspersen’s schemes. Mr. Caspersen, who is married with two young children, often persuaded people to invest with him by letting his victims believe his fraudulent deals were among the legitimate investment deals he was working on at the Park Hill Group, a division of PJT Partners.