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Date Posted: 12:25:36 3/25/23 Sat
Author: Jasper
Subject: Morgan Stanley will not get off easy.

.
Cohen, the former Morgan Stanley advisor, allegedly directed basketball players to contribute to a nonprofit, which the defendants then used for their own personal gain. The DoJ reported the fraud scheme amounted to over $13 million, affecting four professional basketball players.

Williams said the four "defendants believed that defrauding their professional athlete clients of millions of dollars would be a layup." He added:

"That was a huge mistake, and they now face serious criminal charges for their alleged crimes."

FINRA filings from 2021 show Morgan Stanley fired Cohen due to "transactions not disclosed to or approved by Morgan Stanley and use of an unapproved platform to engage in inappropriate communications with clients."

https://www.zerohedge.com/markets/ex-morgan-stanley-adviser-stole-millions-nba-players

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