NEW YORK: A federal judge on Friday sentenced a former Wall Street executive who defrauded friends and family members of $38.5 million to four years in prison.
Andrew Caspersen an Ivy League-educated financier charged in a Ponzi scheme-like fraud, received a punishment much below the maximum 15.7 years in sentencing guidelines. Caspersen’s conduct should be treated differently from instances when someone makes a rational decision to violate the law, US District Judge Jed Rakoff said.
The law distinguishes between those who “would rather do something harmful to others” and “those who act with diminished authority and are to some extent not operating with a full deck,” the judge added at the hearing.
November 6th, 2016 DAWN News
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