Former Wall Street executive Caspersen pleads guilty to massive fraud: Reuters

Former Wall Street executive Andrew Caspersen pleaded guilty on Wednesday to charges that he tried to defraud investors including friends and family members out of nearly $150 million, conduct that his lawyer has blamed on a gambling addiction.

Caspersen, who worked at a unit of investment banker Paul Taubman’s PJT Partners Inc prior to his arrest in March, pleaded guilty in federal court in Manhattan to charges of securities fraud and wire fraud.

Photo: Andrew Caspersen (R) departs after a hearing at the U.S. Federal Court in New York March 28, 2016. Reuters/Lucas Jackson