Post by Logan on Feb 3, 2017 20:36:41 GMT -6
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: www.greensboro.com/ap/us_world/ex-morgan-stanley-financial-adviser-arrested-in-fraud-case/article_279172c8-1055-5378-923f-0b62a433e699.html
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: www.greensboro.com/ap/us_world/ex-morgan-stanley-financial-adviser-arrested-in-fraud-case/article_279172c8-1055-5378-923f-0b62a433e699.html