Ex-Morgan Stanley exec gets prison time in bribery case

Source: Reuters

Ex-Morgan Stanley exec gets prison time in bribery case
Thu, 16 Aug 2012 23:50 GMT
Source: reuters

By Jessica Dye

NEW YORK, Aug 16 (Reuters) - A former Morgan Stanley real estate dealmaker was sentenced to nine months in prison on Thursday for skirting the bank's internal controls in an effort to enrich himself and a Chinese government official.

Garth Peterson, 43, had pleaded guilty in April to conspiring to evade internal accounting controls that Morgan Stanley was required to maintain under the U.S. Foreign Corrupt Practices Act, an anti-bribery law.

Peterson, a managing director in Morgan Stanley's real estate investment and fund advisory business in Shanghai, was fired in 2008 amid a probe into a suspect real estate deal, court records showed.

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The sentence, imposed by U.S. District Judge Jack Weinstein in Brooklyn, New York, was much shorter than the 51- to 60-month term sought by prosecutors.


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