Pursuits
PJT's Caspersen Charged by U.S. Over $95 Million Fraud
- Firm conducted an internal investigation and is cooperating
- PJT shares fall in New York trading after charges announced
Banker Accused of Fraud Seemed to Have It All
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A former managing director at PJT Partners Inc.’s Park Hill Group was arrested and charged with scheming to defraud investors, including a charitable foundation, of more than $95 million.
Andrew Caspersen, 39, stole the money through phony private equity investments and lost millions through aggressive options trading in his own account, prosecutors said in a complaint made public Monday. PJT told staff in a memo that Caspersen was fired on Monday. Shares of the investment bank plunged in New York trading.