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SEC Sues Ex-Morgan Stanley Broker Shawn Good Over Alleged $4.8M Ponzi Scam
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 least $4.8M from five clients at the firm, including retirees and a single mom with young children, to supposedly invest in low-risk, tax-free bonds and land development projects.