Andrew Caspersen’s Defense Strategy Emerges

It's hard not to steal from people!

He’s not a bad guy, you see, stolen $95 million notwithstanding. He just couldn’t help himself.

Although he thrived at work and struck colleagues as strait-laced, Mr. Caspersen harbored a secret: He had developed what he would later describe to acquaintances as an unhealthy fixation on placing big wagers on the market. Among his instruments of choice were stock options, which allowed him to make high-stakes bets with limited capital.

Unbeknown to his family and close friends, Mr. Caspersen’s speculative trading had largely depleted his personal fortune by last summer—and put him on an even more self-destructive path.

The Unraveling of a Wall Street Scion [WSJ]
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