SEC permanently bans fraudster Andrew Caspersen from industry

The former Park Hill Group executive pleaded guilty to defrauding investors of more than $38 million.
SEP 15, 2016
Andrew Caspersen, former managing principal and member of the secondaries group at Park Hill Group, has reached a settlement with the Securities and Exchange Commission that permanently bars him from the investment industry, the SEC announced Wednesday. Mr. Caspersen was dismissed in March from his job at Park Hill Group, which last October was spun off from Blackstone Group to financial advisory firm PJT Partners Inc. On July 6, Mr. Caspersen pleaded guilty to defrauding investors of more than $38 million and misappropriating more than $8 million from his former employer, according to a statement by Preet Bharara, U.S. attorney for the Southern District of New York. Mr. Caspersen's sentencing is scheduled for Nov. 2. This story first appeared in Pensions & Investments

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