INFOGRAPHIC: RI Ties to Wall St. Exec Arrested for $95M in Fake Investments
Tuesday, March 29, 2016
In one of the most high profile enforcement actions by the SEC ever, Wall Street executive Andrew Caspersen was arrested and charged with fraud tied to a scheme that was trying to defraud $95 million from charities. Caspersen’s family and his firm have deep political and financial Rhode Island ties.
Vanity Fair ran a feature story about the death of Finn Caspersen — Andrew’s father — in 2010. The elder Casperson and Andrew’s mother owned a $10 million home in Westerly and were significant donors to Rhode Island politicians and conservative organizations.
The family wrote political checks in the thousands to RI politicos, including Governors Don Carcieri and Gina Raimondo
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTVanity Fair wrote, “It was the shot heard ‘round the world’ for the Wasp Old Guard of New Jersey horse country, the Rhode Island shore, and Jupiter Island, Florida. On Labor Day morning last year, while the rest of the country was wondering whether to spend the final day of summer lying on the beach or firing up the grill, Finn M. W. Caspersen, the immensely wealthy 67-year-old former chairman and C.E.O. of the Beneficial Corporation, had other things on his mind."
Related Slideshow: RI Pension System’s Highest Paid Investment Firms
Below are the highest paid investment firms by the state pension system. Two types are listed: hedge funds and private equity firms. Firms are listed in order of least to highest rate of pay. Firms at the same rate of pay are ordered according to the amount of the payment they received, from least to greatest. For each firm, the name, type, management and performance fee rates, and the amounts paid for each are shown, along with the total. In instances where a firm had more than one fund, information is provided for each individual fund. Data are from a newly published online report of investment expenses for the state pension system. Note that the Treasurer’s office has declined to disclose information for 18 private equity firms due to confidentiality clauses.
Related Articles
- NEW: Siedle Blasts Raimondo for Withholding Hedge Fund Info
- NEW: SEC Charges RI Commerce Corp, Wells Fargo with Fraud in 38 Studios
- NEW: Caprio Splits with Raimondo on Hedge Funds
- 38 Studios: SEC Charges RI Commerce Corp, Wells Fargo with Fraud - RI Reacts
- Raimondo’s Top Hedge Fund is Being Investigated by Feds
- Ted Siedle: Hedge Fund Industry Loves RI Pension—For Good Reason
- AFSCME Taps Forbes Finance Expert to Probe Hedge Fund Investments
- Rhode Island Steers Clear of Hedge Fund Trap
- Should Raimondo Release Contracts with Hedge Funds
- NEW: Fung Calls on Raimondo to Release Hedge Fund Research
- NEW: Fung Calls on Raimondo to Release Hedge Fund Research
- Transparency Denied: New Treasurer Censors Hedge Fund Reports
- Former MIT Dean & Son Get 45 Months in Prison for Hedge Fund Scam
- Riley: Puerto Rico Hedge Fund “Bailout” to Follow Rhode Island Law
- Hedge Fund Reports Censored - See the Redactions
- Riley: Institutional Investor Gives Bad Grades to RI’s Hedge Fund Picks
- Should Rhode Island Divest from Hedge Funds?
- Riley: Providences Wainwright Caught in Renaissance Hedge Fund Lie
- Hedge Fund in RI Portfolio Reports First Ever Loss
- Riley: RI Treasurer & Hedge Fund Debacle – Worst Returns in a Decade
- NY Lawyer Charges RI Pension Investments Tied to New SEC Complaint
- Why Obtaining a College Degree is a Smart Investment
- Scammed RI Hockey Great Seeks Millions in Bilked Investments
- A College Degree is Still a Smart Investment
- Riley: Taveras, Mancini & Wainwright Investment Counsel, LLC
- In Case You Missed It: Siedle Report on RI Pension Investments
- DESIGN LINE: Worth The Investment–Tracy Glover Studios Lighting
- Former Teachers Union Head Blasts Raimondo’s Pension Investments
- In Case You Missed It: Raimondo’s Pension Investments
- EXCLUSIVE: RI Pension Investment in Raimondo’s Pt. Judith Had Steep Losses
- INVESTIGATION: Raimondo Investment Program’s Fees Exceed Gains
- Acadia Center: Support Efficiency Investments for a Clean, Affordable Energy Economy
- One 38 Studios Document Shows Why RI’s Investment Was Simply Absurd
- U.S. Department of Education Ranks RI Colleges by Return on Investment
- Venture Capital Takes a Big Dip - Investment Dollars Declined Dramatically in 3Q
- Riley: RI Investment Adviser “Sell Providence RI Bonds”
- SEC Charges RI Pension Investment Firm with Failure to Disclose Conflicts
- INVESTIGATION: Investment Firms Not Sharing Vendor Discounts with RI Pension Fund
- The Highest Paid Investment Firms in RI Pension System
- RI Pension System’s Top 20 Highest Paid Investment Managers
- Rhode Island Has the 9th Worst Taxpayer Return on Investment
- Raimondo Releases Tolling Plan for $1.1 Billion RI Infrastructure Investment
- Magaziner Offers Nominations for State Investment Commission, State Retirement Board
- CITY OF PROVIDENCE: Board of Investment Commissioners Meeting Feb 25, 2016