Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

Posted on April 27th, 2022 at 1:05 PM
SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï:

The Securities and Exchange Commission (SEC) has accused a former Morgan Stanley advisor of using client funds to cover personal expenses including a Tesla vehicle, credit card bills and cash transfers. 

The former Morgan Stanley advisor, Shawn Good, permitted clients to send funds to his personal bank account to purportedly make low-risk investments in real-estate development projects, according to the SEC’s complaint. The SEC alleges that Good defrauded investors, including several retirees, out of nearly $4.8 million. Good has been terminated by Morgan Stanley as a spokesperson classified the former advisor’s conduct as “plainly unacceptable.” 

According to the SEC, Good’s scheme lasted around a decade as he used client funds to cover bills, repay earlier investors and transfer cash on Venmo. Good informed clients that the purported investments would pay returns between 6% and 10% over the next three to six months. However, Good never tendered a written agreement to his clients, according to the SEC. 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, sec, morgan stanley

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

1778521728 Law
May 11, 2026
Private Credit Funds Face Rising Redemptions and Valuation Scrutiny

Investor pressure on private credit funds continues to intensify as redemption requests increase and concerns emerge over how firms value underlying loan portfolios.

1778517375 Law
May 11, 2026
SEC Reports Decline in Enforcement Actions as Leadership Refocuses on Investor Harm

The U.S.

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.