PJT PartnersInc. took a $3.3 million charge in the first quarter in connectionwith Andrew Caspersen's alleged fraud scheme.
The $3.3 million charge includes an offset for insurancerecovery deemed to be probable of receipt, according to a May 9 release.
The SEC and the U.S. Attorney's Office for the SouthernDistrict of New York in March announced actions against Caspersen overan alleged scheme to defraud investors of $95 million. Caspersen had been amember of PJT Partners' Secondaries Group at Park Hill. PJT Partners inApril said it had substantially completed itsreview of informationavailable to it for the period of Caspersen's employment with Park Hill fromearly 2013 through the date of his arrest.
PJT Partners is also facing a class action from Goldberg Law PCover Caspersen's scheme.