morgan stanley

Doug McKelvey,

Morgan Stanley Advisor Doug McKelvey Confesses to Embezzling From Family

Doug McKelvey, an ex-broker from Morgan Stanley, based in Southlake, Texas, confessed to embezzling over $1.5 million from his mother and mother-in-law, as per the U.S. Attorney’s Office in the Eastern District of Texas. Doug M. McKelvey, aged 58, conceded to money laundering charges and potentially faces a decade in prison, announced the U.S. Attorney’s […]

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Financial Advisor Antoine Souma Ordered to Pay Morgan Stanley $6.4 Million in Damages – BARRED

Former broker Antoine Souma has been ordered to pay Morgan Stanley nearly $6.4 million in compensatory damages related to two promissory notes paid to him as recruitment compensation. After a panel of arbitrators concluded that prohibited broker Antoine Nabih Souma (CRD# 4210987) owes his former employer, Morgan Stanley, $6.4 million in compensatory damages, national investment

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Wall street fine

Unpreserved Electronic Communication of Employees Leads to $1.8B Collectively in Fines for Several Firms

A number of firms including UBS, Morgan Stanley, and Bank of America, have been asked by regulators to pay approximately $1.8 billion in the form of penalties for their failures with regard to the preservation of electronic communications of employees. The subject is one that regulators have been concerned about for several years. The levy

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Morgan Stanley Shaw Good Barred

Morgan Stanley Advisor Shaw Good Barred After $4.8 Ponzi Scheme

Formerly registered with Morgan Stanley, Wilmington, North Carolina-based financial advisor Shawn Good has been accused of operating a $4.8 million Ponzi scheme by the Securities and Exchange Commission (SEC). According to reported news, he faces two charges of felony. A federal judge in North Carolina has barred him from selling securities based on the permanent

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