{"id":5962,"date":"2016-04-30T00:00:00","date_gmt":"2016-04-30T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/04\/institutional_fraud_cases_shar"},"modified":"2022-05-18T14:52:09","modified_gmt":"2022-05-18T19:52:09","slug":"institutional-fraud-cases-shar","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/","title":{"rendered":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm"},"content":{"rendered":"

Securities Case Brought Over Caspersen Fraud<\/strong>
\nShareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment bank. The complaint comes in the awake of the arrest of Andrew Caspersen, who previously was one of the top officials at the bank\u2019s Park Hill Group unit. Caspersen is accused of running a $95M fraud in secret. He is also a defendant in this lawsuit.<\/p>\n

According to authorities, Caspersen falsely told investors that he was raising funds for supposed private equity investments when actually he was placing their money in high-risk options bets. He lost millions of dollars through options trading in his own accounts. Among his investors were the charitable foundation of a hedge fund and other institutional clients.<\/p>\n

Caspersen was arrested and charged last month, as well as fired from PJT Partners. Investor Gregory Barrett claims that the investment bank misled shareholders by not disclosing that it had inadequate fraud prevention and compliance controls. The shareholder lawsuit points to purported evidence of alleged control failures, including an anonymous quote in the New York Times<\/em> stating that Caspersen had availed of Park Hill Group\u2019s payment system to give investors invoices and keep his scam going.<\/p>\n

Sabal Sues Deutsche Bank Over Swap Transaction<\/strong>
\nSabal Limited LP is suing Deutsche Bank AG (DB). Sabal claims that the German bank falsified documents after coming to the realization that the outcome of a swap transaction wasn\u2019t going to be in its favor. Deutsche Bank is accused of improperly holding nearly $1M from the Texas asset management firm.<\/p>\n

According to Sabal, in 2011, Deutsche Bank proposed a way of \u201ccheapening\u201d the firm\u2019s capital costs through a swap tied to the DB Pulse USD Index. Deutsche Bank purportedly said that if the swap was based on this index it would generate a lot of funds. The transaction was finalized a few months later.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment bank. The complaint comes in the awake of the arrest of Andrew Caspersen, who previously was one of the top officials at the bank\u2019s Park Hill Group unit. Caspersen is accused of running […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752,3795,3972,3750],"tags":[3615],"class_list":["post-5962","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","category-sec-settlements","category-swap-transactions","category-texas-securities-fraud","tag-pension-fund-fraud"],"yoast_head":"\nInstitutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm — Investor Lawyers Blog — April 30, 2016<\/title>\n<meta name=\"description\" content=\"Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment — April 30, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm — Investor Lawyers Blog — April 30, 2016\" \/>\n<meta name=\"twitter:description\" content=\"Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment — April 30, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm — Investor Lawyers Blog — April 30, 2016","description":"Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment — April 30, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/","twitter_card":"summary_large_image","twitter_title":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm — Investor Lawyers Blog — April 30, 2016","twitter_description":"Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment — April 30, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm","datePublished":"2016-04-30T05:00:00+00:00","dateModified":"2022-05-18T19:52:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/"},"wordCount":635,"keywords":["Pension fund fraud"],"articleSection":["Deutsche Bank","Financial Firms","SEC Settlements","Swap Transactions","Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/","url":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/","name":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm — Investor Lawyers Blog — April 30, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-04-30T05:00:00+00:00","dateModified":"2022-05-18T19:52:09+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Securities Case Brought Over Caspersen Fraud Shareholders of PJT Partners Inc. have brought a class action lawsuit against the publicly traded investment — April 30, 2016","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/institutional-fraud-cases-shar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Institutional Fraud Cases: Shareholders Sue PJT Partners Over Andrew Caspersen\u2019s $95M Fraud, Sabal Limited Sues Deutsche Bank, and Dallas Pension Fund Sues Firm"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1ya","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=5962"}],"version-history":[{"count":4,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5962\/revisions"}],"predecessor-version":[{"id":27958,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5962\/revisions\/27958"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=5962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=5962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=5962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}