Wall Street scion Caspersen gets 4 years in prison for $38.5 million fraud

By Nate Raymond NEW YORK (Reuters) – Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million. Caspersen, who worked at a unit of investment banker Paul Taubman's PJT Partners Inc before his arrest in March, was sentenced by U.S. District Judge Jed Rakoff in Manhattan after pleading guilty to charges including securities fraud. Prosecutors sought up to 15-2/3 years in prison for the Princeton University and Harvard Law School graduate, who they said for 18 months shamelessly exploited his victims' trust.

Go here to see the original: 
Wall Street scion Caspersen gets 4 years in prison for $38.5 million fraud