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Andrew W.W. Caspersen pleads guilty after charged with $150 million fraud

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Staff Writer | July 7, 2016
Andrew W.W. Caspersen, a former Wall Street executive charged with masterminding a $150 million fraud, pleaded guilty to stealing millions from investors to place risky stock market bets.
Andrew W.W. Caspersen
Investor   Placing risky stock market bets
Caspersen pleaded guilty to two criminal counts in Manhattan federal court and admitted to stealing some $38.5 million from family members and close friends, while soliciting other investors for millions more.

Caspersen said his crimes were committed to fuel a gambling addiction and that virtually all of the stolen money had been gambled away. He will be sentenced at a later date.