Former Wall Street executive Caspersen pleads guilty to massive fraud

NEW YORK (Reuters) - Former Wall Street executive Andrew Caspersen pleaded guilty on Wednesday to charges that he tried to defraud investors including friends and family members out of nearly $150 million, conduct that his lawyer has blamed on a gambling addiction.

Caspersen, who worked at a unit of investment banker Paul Taubman's PJT Partners Inc prior to his arrest in March, pleaded guilty in federal court in Manhattan to charges of securities fraud and wire fraud.

(Reporting by Nate Raymond in New York; Editing by David Gregorio)