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Someone ran a $40,000,000 Ponzi Scheme to fund gambling

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Andrew Caspersen has defrauded friends, family and hedge fund foundation for 1.5 years for the amount of approximately $40,000,000.

 

The reason?

To fund his gambling addiction.

He was addicted to gambling for over a decade.

He was also betting on sports (not only casino games), so you can imagine the devastating consequences for those who believe they can make money from betting on sports.

 

It's another sad story. Read it all here:

http://www.nytimes.com/2016/06/15/business/dealbook/andrew-caspersen-charged-in-40-million-fraud-had-gambling-addiction-lawyer-says.html?_r=0

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