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,
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.