Hedge Funds
The hedge fund billionaire Louis M. Bacon’s charitable foundation was a victim of a fraudulent scheme by the 39-year-old Wall Street executive Andrew Caspersen, the foundation said on Tuesday. The Moore Charitable Foundation, a trust “established to protect our land, water and wildlife for the benefit of future generations,” said in a statement that it was “lied to by Andrew Caspersen, a managing director at investment bank PJT Partners, regarding a potential investment related to the publicly announced restructuring of a private equity fund.” The Moore Charitable Foundation said that it “detected irregularities in a proposed follow-on deal” and then...