Billionaire Louis Bacon's Charity Was The Victim Of A Banker's Alleged $95 Million Fraud

Reuters/ Lucas JacksonThe Moore Charitable Foundation, an environmental charity founded by hedge fund billionaire Louis Bacon, was the victim of an alleged fraud by banker Andrew W. W. Caspersen.Caspersen, a former managing director at PJT Partner's Park Hill Group was arrested Saturday. "The Foundation 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 foundation, which focuses primarily on environmental causes, said in an emailed statement to Business Insider. "The Foundation put approximately $25 million of its endowed funds toward the investment.