A National Securities Arbitration & Investment Fraud Law Firm

Barry F. Connell, Formerly of Morgan Stanley, Under Investigation Over Allegations that he Stole From Clients

Silver Law Group is investigating former New Jersey-based Morgan Stanley (CRD# 149777) broker Barry F. Connell (CRD# 3070984) over SEC allegations that he stole money from his customers.

According to the SEC complaint, Connell misappropriated approximately $5 million from Morgan Stanley clients from December 2015 through November 2016.  Allegedly, Connell carried out the scheme primarily by moving funds between certain client accounts and issuing wire transfers and checks from the accounts to third parties for his benefit.  Over the course of approximately eleven (11) months, Connell made 100 unauthorized transactions, according to the SEC complaint.

According to Connell’s FINRA BrokerCheck report, Morgan Stanley discharged Connell in November 2016 after the allegations surfaced.

Since Morgan Stanley discharged Connell, FINRA suspended the broker and one (1) FINRA arbitration has been filed against Connell alleging unsuitable recommendations and damages in the amount of $161,000.

Two (2) other FINRA arbitration complaints against Connell settled for an aggregate of $75,000 in 2008 and 2012.  The 2012 complaint alleged unauthorized trading.

Morgan Stanley employed Connell from June 2009 till his discharge in 2016.  Connell was based out of the Ridgewood, New Jersey Morgan Stanley branch.

FINRA arbitration is a fast, efficient way to recover your lost investment funds due to misconduct involving unauthorized trading and misappropriation.  We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.

If you have invested with Barry F. Connell and Morgan Stanley and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.

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