Partner At Blackstone Spun-off Private Equity Firm Arrested, Charged With Stealing $95 Million

In a shocking development, earlier today a highly reputable executive with a just as reputable private equity firm was arrested and charged with securities fraud. Andrew Caspersen, 39, 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 and was recently spun off as Paul J. Taubman’s PJT Partners, was accused of defrauding numerous institutional investors out of $95 million through fake private equity investments.
According to the SEC, Caspersen invented fake financiers, set up false e-mail addresses and misleading domain names, all in an attempt to embezzle nearly $100 million in investor funds.

This post was published at Zero Hedge on 03/28/2016.