The charitable foundation of hedge-fund billionaire Louis Bacon said it fell victim to Andrew Caspersen, the Wall Street banker accused of stealing $25 million in an investment scam. “The foundation was lied to by Andrew Caspersen” about “a potential investment related to the publicly announced restructuring of a private-equity fund,” the foundation said in a statement, which was reported earlier Tuesday by the New York Times.
Sam Won comments on operational risk hazards for sophisticated investors.
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