Blackstone Partner Stole $40 Million From Friends, Family; Blames It On “Gambling Addiction”

from Zero Hedge

Earlier this year we profiled Andrew Caspersen’s arrest. As a quick reminder, Caspersen is a 39 year old Harvard Law graduate and former partner at the Park Hill Group (formerly owned by Blackstone) who has been accused of defrauding investors through fake private equity investments.

[…] Federal prosecutors claim that Caspersen ran a Ponzi scheme that defrauded friends, family and a hedge fund foundation out of nearly $40 million over an 18-month period, and in court on Tuesday Caspersen gave his reason for that – he just has a gambling problem.

From the NYT

Continue Reading at…