National investment fraud lawyers KlaymanToskes is investigating (“Shawn Good Morgan Stanley Ponzi Investigation”) potential FINRA arbitration claims on behalf of former and current Morgan Stanley customers who held accounts with Shawn Edward Good, who is a barred broker formerly registered out of the firm’s Wilmington, North Carolina branch.
According to the SEC’s Complaint filed in April 2022, Shawn Good allegedly operated a 10-year Ponzi scheme that defrauded several clients out of at least $4.8 million. Specifically, starting around December 2012, and continuing to at least February 2022, Good allegedly solicited at least five investment advisory clients at Morgan Stanley to invest in purportedly low-risk investments in real-estate development projects and tax-free government bonds. However, Good used his clients’ funds to repay his earlier victims and to pay his personal expenses, such as luxury cars, credit card bills, and international travel.
According to FINRA BrokerCheck, Good was registered with Morgan Stanley from December 2012 to March 2022. Before joining Morgan Stanley, Good was registered with Wells Fargo Advisors, LLC in Wilmington, NC from November 2004 to December 2012. From 1996 to 2004, Good was registered with Charles Schwab & Co., Inc. in their San Francisco, California branch.
Per FINRA BrokerCheck, Morgan Stanley terminated Shawn Good in March 2022 because he “declined to cooperate with an internal firm review following client accusations.” FINRA barred Shawn Good from associating with any FINRA member in all capacities in April 2022.
Current and former customers of Morgan Stanley who held accounts with Shawn Good who have information relating to the manner in which he handled customer accounts are encouraged to contact Lawrence L. Klayman, Esq., at 1-888-997-9956, and download our Special Investor Report.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.