Talk:Andrew Caspersen
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Crystal Ball?
[edit]I started this page yesterday thinking that it had all the earmarks of a major scandal, a la Bernard Madoff, an article I also started. Yesterday the accusation was that he stole $95 million, but on closer examination the accusation is that he only stole $25 million (from a charity), and tried to take $70 million more. He is also accused of using $8 million of the stolen $25 m to coverup a previous theft. The article on his father is FA and involves an IRS investigation and a suicide. So, today I'm sure this is not the next Bernard Madoff, but have no idea where the story will go. We'll possibly have to wait for the trial. Smallbones(smalltalk) 14:13, 29 March 2016 (UTC)
Strange plea
[edit]Caspersen has now pled guilty to a $38 million fraud, see NYTimes Fortune Reuters. I've only skimmed the last 2.
The story the plea and the NYTimes paints is pretty strange. I think, as part of the plea bargain, they just decided to leave a few things out. I haven't attempted in the article to reconcile the earlier charges with the pleas - no time right now.
The plea/NYT article seems to say that Caspersen bet about $125 million in his options account every month, all in, all-or-nothing, and lost it all in the course of one month Feb-March. Well it's a totally irrational strategy, but it does explain why he would lose the money in one month. Sorta like "Let's bet everything on coin flips, just keep on flipping. I'll bet tails every time." About half the time he'd lose it all in one month with this strategy, over 90% of the time he'd lose it all within 4 months. What it doesn't explain is what the charges about (from memory) last September were all about, and indications of fraud one year before that. In other words the plea is just too neat and obscures more than it reveals.
Any help on sorting this out would be appreciated. Smallbones(smalltalk) 15:29, 7 July 2016 (UTC)
How does Caspersen get a projected release date as early as 2019???
[edit]The Bureau of Prisons "Inmate Locator" states that Caspersen's projected release date is 26 June 2019. How is that possible with a minimum 12 year sentence and given that the new rule since the early 1990's is that Federal convicts have to serve a minimum of 85% of all Federal sentences??? Since he was given a minimum of 12 years, that should be 10.2 years (12 x 0.85), and given that he went "inside" in 2016, that would indicate a minimum projected release date of 2026. What gives??? Thanks in advance to anybody who knows.