Louis Bacon Seeks to Revive Caspersen Fraud Suit Against PJT (1)

Billionaire hedge fund founder Louis Bacon’s charitable foundation asked New York’s highest court to revive a lawsuit to recover $25 million from Paul Taubman’s PJT Partners that was stolen by former managing director Andrew Caspersen.

Lawyers for the Moore Charitable Foundation on Wednesday urged the Court of Appeals in Albany to reinstate a 2017 suit against PJT over the actions of Caspersen, who worked at the boutique investment bank’s Park Hill Group. Caspersen pleaded guilty in 2016 to defrauding friends and family, as well as his employer and its investors, out of more than $38 million.

Louis Bacon in 2018.

Photographer: Jared Siskin/Patrick McMullan/Getty Images