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Judi Lynn

(160,545 posts) Sat Feb 4, 2017, 05:20 AM Feb 2017

Ex-Morgan Stanley financial adviser arrested in fraud case

Source: Associated Press

Updated 8:05 pm, Friday, February 3, 2017

NEW YORK (AP) A former Morgan Stanley financial adviser was arrested in Nevada on Friday on charges in New York that he stole at least $5 million from several members of a wealthy family to live lavishly, including using private jets, authorities said.

Barry Connell, 50, of Chester, New Jersey, was arrested in Henderson, Nevada, on fraud and identity theft charges.

Authorities said Connell used his position at the New York-based financial institution to defraud three of the bank's wealthy clients from December 2015 until November.

Manhattan U.S. Attorney Preet Bharara said Connell "used his clients' bank accounts as his own, siphoning off millions of dollars to pay for his extravagant lifestyle, including a country club membership and private jet expenses."

Read more: http://www.chron.com/news/crime/article/Ex-Morgan-Stanley-financial-adviser-arrested-in-10907077.php

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Barry Connell
Morgan Stanley

5 replies

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Highlight:

Ex-Morgan Stanley financial adviser arrested in fraud case (Original Post) Judi Lynn Feb 2017 OP

Link to the DoJ PR nitpicker Feb 2017 #1

"Morgan Stanley: We make money the old fashioned way. Mc Mike Feb 2017 #2

If he had ripped off 1000 middle class .he would've laserhaas Feb 2017 #3

Isn't that normal for them? DK504 Feb 2017 #4

Stealing from the wealthy will get you locked up. Demsrule86 Feb 2017 #5

nitpicker

(7,153 posts)

1. Link to the DoJ PR

Reply to Judi Lynn (Original post)

Sat Feb 4, 2017, 06:54 AM

Feb 2017

https://www.justice.gov/usao-sdny/pr/former-financial-adviser-global-bank-charged-manhattan-federal-court-multimillon-dollar

Mc Mike

(9,114 posts)

2. "Morgan Stanley: We make money the old fashioned way.

Reply to Judi Lynn (Original post)

Sat Feb 4, 2017, 09:07 AM

Feb 2017

We Steal it."

laserhaas

(7,805 posts)

3. If he had ripped off 1000 middle class .he would've

Reply to Judi Lynn (Original post)

Sat Feb 4, 2017, 12:47 PM

Feb 2017

been....promoted.

He messed with the rich and got the Preet bitch

DK504

(3,847 posts)

4. Isn't that normal for them?

Reply to Judi Lynn (Original post)

Sat Feb 4, 2017, 01:26 PM

Feb 2017

Tiny fines, no jail, they are allowed to continue to do the same thing to other people.

I'm sure he was allowed to turn himself in instead of the feds going to his home and cuffing him in front of his neighbors. Of course the cops didn't show up and throw flash bangs into his home harming the children & shooting any one they see.

Until these assholes end up in federal prisons like Leavenworth, this is bull shit.

Demsrule86

(68,593 posts)

5. Stealing from the wealthy will get you locked up.

Reply to Judi Lynn (Original post)

Sun Feb 5, 2017, 11:26 AM

Feb 2017

Stealing from the poor and middle class will get you a bonus.

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