{"id":6613,"date":"2018-09-07T10:40:43","date_gmt":"2018-09-07T14:40:43","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=6613"},"modified":"2018-09-07T10:40:43","modified_gmt":"2018-09-07T14:40:43","slug":"former-boston-massachusetts-based-morgan-stanley-brokers-under-investigation-for-allegedly-stealing-almost-half-a-million-from-elderly-client","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/former-boston-massachusetts-based-morgan-stanley-brokers-under-investigation-for-allegedly-stealing-almost-half-a-million-from-elderly-client\/","title":{"rendered":"Former Boston, Massachusetts-based Morgan Stanley Brokers Under Investigation for Allegedly Stealing Almost Half a Million from Elderly Client"},"content":{"rendered":"

Silver Law Group is investigating claims against former Boston, Massachusetts-based Morgan Stanley brokers James Polese (CRD# 2636427)<\/a> and Cornelius Peterson (CRD# 5769919)<\/a> after FINRA barred both of them for allegedly stealing $450,000 from an elderly client.<\/p>\n

Both Boston, Massachusetts brokers were charged<\/a> by the Securities and Exchange Commission (the \u201cSEC\u201d) in January 2018 and agreed to plead guilty to the charges<\/a> conspiracy, advisor fraud and bank fraud.<\/p>\n

The SEC alleges in its complaint<\/a> that Polese and Peterson misappropriated money from their Morgan Stanley customers starting in 2014. According to the SEC, Polese and Peterson fraudulently misappropriated $350,000 in March 2016 from an elderly customer. Polese and Peterson used a portion of the money to make investments in their own names, and directed a larger portion to Polese\u2019s personal bank account. Then, according to the SEC, from March through May 2017, Polese made numerous unauthorized transactions from the same elderly customer\u2019s account totaling approximately $93,000 to pay Polese\u2019s credit card and college tuition expenses for Polese\u2019s children.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Silver Law Group is investigating claims against former Boston, Massachusetts-based Morgan Stanley brokers James Polese (CRD# 2636427) and Cornelius Peterson (CRD# 5769919) after FINRA barred both of them for allegedly stealing $450,000 from an elderly client. Both Boston, Massachusetts brokers were charged by the Securities and Exchange Commission (the \u201cSEC\u201d) in January 2018 and agreed […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[591,583,580],"tags":[827,825,89,1225,290],"class_list":["post-6613","post","type-post","status-publish","format-standard","hentry","category-misappropriation","category-sec-actions","category-stockbroker-misconduct","tag-cornelius-peterson","tag-james-polese","tag-morgan-stanley","tag-scott-silver-morgan-stane","tag-securities-arbitration"],"yoast_head":"\nFormer Boston, Massachusetts-based Morgan Stanley Brokers Under Investigation for Allegedly Stealing Almost Half a Million from Elderly Client — Securities Arbitration Lawyers Blog — September 7, 2018<\/title>\n<meta name=\"description\" content=\"Silver Law Group is investigating claims against former 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