Private Equity Executive Accused of Faking Investments.

[elleng]

'A former executive with a large private equity firm has been arrested and charged with securities fraud, federal prosecutors said on Monday.

Andrew Caspersen, a Harvard Law School graduate and a partner at the Park Hill Group, an advisory firm that up until last fall had been a part of the Blackstone Group’s advisory business, has been accused of seeking to defraud a number of institutional investors out of $95 million through fake private equity investments. . .

“As alleged, Caspersen engaged in a brazen fraud by raising money under false pretenses and simply stealing the funds,” said Andrew M. Calamari, director of the Securities and Exchange Commission’s New York office. “This action amply demonstrates that even sophisticated institutional investors are not immune to financial scams.”'>>>

http://www.nytimes.com/2016/03/20/business/dealbook/private-equity-executive-accused-fake-investments.html?

[WhiteTara]

1. I hope they convict him.

[Auggie]

2. It's only when you steal from the poor that you walk.