Ex-Morgan Stanley Broker Accused of Defrauding Investors, Including Retirees The Securities and Exchange Commission (SEC) has filed civil charges against former Morgan Stanley financial advisor Shawn Edward Good accusing him of operating a years-long Ponzi scheme and misappropriating millions of dollars from customers. Shawn Good is accused of raising at…
Fired California Financial Advisor Allegedly Bilked Pro Athletes of Millions Darryl Matthew Cohen, a former top-producing Morgan Stanley Smith Barney registered representative of Southern California, faces a FINRA bar beginning February 16, 2022. This bar will come into effect unless he cooperates in the self-regulatory organization’s (SRO’s) probe into allegations…
Atlanta Financial Advisor Accused of Using an Unsuitable Options Investment Strategy Michael John Wagner, a longtime Morgan Stanley broker, is currently under scrutiny in the wake of recent customer disputes in which the claimants are requesting over $20M in damages. Based out of Atlanta, Georgia, Wagner has worked in the…
Ex-El Paso Financial Advisor Allegedly Took Over $61K From Client Credit Line On November 29, 2021, the Financial Industry Regulatory Authority (FINRA) barred Jesus Rodriguez. The former Texas broker was accused of taking over $61K from a client credit line for his own use. The sanction came after he refused…
Morgan Stanley Fires Financial Advisors After Inherited Account Credits Investigation Morgan Stanley (MS) announced recently that it has terminated a number of financial advisors after a months-long investigation into payments being made to retired Morgan Stanley financial advisors under Morgan Stanley’s own Legacy Account Payments Program. Morgan Stanley’s “sunset plan”…
The Latest Customer Claim Accuses Investment Advisor of Excessive Trading Once again, an investor is blaming former Morgan Stanley stockbroker, Michael Frank Paesano, for their investment losses. These latest allegations involve excessive trading. Although Paesano is no longer a registered broker, he is still a registered investment advisor and he…
Morgan Stanley Settlement Includes FINRA Fine and Investor Restitution According to the Financial Industry Regulatory Authority (FINRA), Morgan Stanley Wealth Management has consented to pay a $175K fine and more than $774K in restitution for allegedly failing to supervise its former broker Kevin Gunnip. The Texas-based financial representative is accused…
Ex-Morgan Stanley Broker Admits To Criminal Investment Fraud, Faces SEC Charges Michael Barry Carter, a former Morgan Stanley (MS) broker, has pleaded guilty to federal investment fraud and wire fraud charges involving a scam in which he defrauded five customers. This included at least one elderly client, of more than…
Brokerage Firm Made Unsuitable Investment Recommendations to An Inexperienced Investor Our brokerage firm fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a Financial Industry Regulatory Authority (FINRA) arbitration against Morgan Stanley on behalf of an elderly Dallas, Texas investor. The investor in question sustained over…
Ex-Morgan Stanley Broker Sentenced To 30 Months Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) if Elias Herbert Hafen, a former Morgan Stanley (MS) and Wells Fargo (WFC) broker, was your financial representative when you suffered substantial investment losses that you think may be due to fraud. Hafen…