Andrew Caspersen, the disgraced scion of a wealthy Wall Street family, was sentenced on Friday to four years in prison for robbing his friends, family members and a large hedge fund foundation in a Ponzi-like scheme.
Mr. Caspersen, 40, who pleaded guilty this summer, had sought to lessen his sentence by arguing he suffers from a severe gambling addiction that compelled him to make high-stake trades in the options market.