Andrew Caspersen of New York New York a stockbroker registered with Park Hill Group LLC is the subject of a civil action brought in the Supreme Court of the State of New York where the customer sought $16,000,000.00 in damages founded on allegations that (1) Caspersen fraudulently solicited a foundation’s securities transactions and (2) Caspersen converted the customer’s funds as part of the scheme. Civil Action No. 654584 (July 5, 2017).
Caspersen has been barred from being a stockbroker or investment advisor or otherwise associating with securities brokerage firms or investment advisories according to an Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) founded on Caspersen pleading guilty to wire fraud and securities fraud. Administrative Proceeding File No. 3-17537 (Sept. 14, 2016).
On November 11, 2016, a judgment had been rendered by the United States District Court for the Southern District of New York in which Caspersen was sentenced to four years in prison for engaging in wire fraud and securities fraud in which he illegally obtained more than thirty-eight million dollars from his victims by making misleading and false representations. Case No. 1:16-mj-02011-UA-1 (Mar. 28, 2016).
Before Caspersen pleaded guilty, he was charged by SEC in a Complaint alleging that he defrauded investors. Securities Exchange Commission v. Andrew W.W. Caspersen et al. Civil Action No. 16-CV-2249-KMW (S.D.N.Y. Mar. 29, 2016). Allegedly, false or misleading statements were made by Caspersen when procuring funds from an institutional investor. Caspersen allegedly stated that the investment had been secured through Irving Place Capital Partners III SPV (also known as Irving Place III). The Complaint stated that Caspersen took control of the customer’s funds where he used those funds for his own benefit. SEC alleged Caspersen’s conduct was violative of Securities Exchange Act of 1934 Section 10(b), SEC Rule 10b-5 and Securities Act of 1933 Section 17(a).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on October 21, 2016, a customer filed an investment related complaint involving Caspersen’s activities in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that between November of 2014 and November of 2015, a scheme was utilized by Caspersen to defraud a customer; and unfounded statements had been made to the customer concerning promissory notes.
Caspersen was discharged by Park Hill Group on March 28, 2016 during the time he was internally investigated for committing fraud in reference to a private equity offering.
