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Ex-Wall Street exec sentenced to 4 years in fraud case

NEW YORK: A federal judge on Friday sentenced a former Wall Street executive who defrauded friends and family members of $38.5 million to four years in prison. Andrew Caspersen, an Ivy League-educated financier charged in a Ponzi scheme-like fraud, received a punishment much below the maximum 15.7 years in sentencing guidelines after US District Judge Jed Rakoff concluded his actions were mitigated by a gambling addiction that led to irrational bets on the stock market. Caspersen's conduct, while "egregious," should be…