Lots of people were scratching their heads Monday trying to figure out why well-heeled, Ivy League-educated Wall Street executive Andrew Caspersen may have stooped to fraud, and swindled investors out of up to $95 million, as federal prosecutors charge.
Those people join others who for the past six years have been scratching their heads over the death of Caspersen's father, Finn M. W. Caspersen. The elder Caspersen was a prodigious political donor, Harvard booster, equestrian aficionado, pal of Queen Elizabeth II and former New Jersey Gov. Thomas Kean, and was the ex-CEO of consumer finance giant Beneficial — which his own father had previously headed.
When he fatally shot himself in 2009, Finn Caspersen and his family were reportedly worth up to $1 billion — but Finn may have been hiding a crime at the time: tax evasion.
Andrew Caspersen, 39, was charged by the Manhattan U.S. attorney's office in a complaint unsealed Monday that accused the private equity executive of duping investors, including a charity, into placing millions of dollars in a sham investment fund.