Our Stockbroker Fraud Law Firm Is Representing This Claimant in His Seven-Figure Lawsuit

The law firm Shepherd Smith Edwards and Kantas is representing an inexperienced Mexican investor in a seven-figure FINRA lawsuit against Morgan Stanley after his barred financial advisor stole his funds. Victims of similar misconduct can work with dedicated broker embezzlement lawyers to hold negligent brokerage firms accountable and recover their stolen assets.

Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing an older semi-retiree after his now barred Morgan Stanley broker, Jesus Rodriguez, embezzled money from him. This Claimant is suing for up to $1,000,000 in damages.

Our Client is a foreign national with no previous investing experience. He entrusted Rodriguez, who was married to his niece at the time, to manage his money in a low-risk manner. The then-Morgan Stanley financial advisor controlled this investor’s money in de facto discretionary accounts. Our Client alleges that when he tried to see his holdings, Rodriguez claimed that account statements would be too confusing to read.

This broker set up a dummy email address in his then-relative’s name to Morgan Stanley and pretended to be this investor in communications with the brokerage firm. The Claimant went on to suffer a six-figure loss while paying tens of thousands of dollars in interest for loans that the broker improperly took from his account.

In his FINRA lawsuit, this senior investor is accusing Morgan Stanley of supervisory failures, gross negligence, ignoring or failing to detect red flags indicating broker misconduct, and not stopping its broker from embezzling funds. The Claimant contends that the broker-dealer never made him financially whole despite the losses he suffered. He is also alleging breach of fiduciary duty, misrepresentations and omissions, breach of contract, and more.

What Is Broker Embezzlement?

This is when your financial advisor steals or misappropriates money from a customer. This money was entrusted to their broker, who deliberately and wrongfully took the funds and violated their fiduciary obligation to them.

What Are The Broker Fraud Allegations Against Former Morgan Stanley Broker Jesus Rodriguez?

• Rodriguez, who was a Morgan Stanley broker for 12 years, is accused of defrauding several investors in a longtime scam.
• The US Securities and Exchange Commission (SEC) filed a regulatory lawsuit accusing him of misappropriating over $3.4M from at least 10 investors.
• The Financial Industry Regulatory Authority (FINRA) permanently barred him from the industry.
• Jesus Rodriguez’s BrokerCheck CRD notes multiple customer disputes resulting in six- and seven-figure settlements.
• Former customers of Rodriguez have accused him of selling away, forgery, misappropriation, fraud, unauthorized withdrawals and more.

Morgan Stanley has paid the SEC $15M to settle allegations involving Jesus Rodriquez.

Talk To Our Broker Embezzlement Lawyers Today

Shepherd Smith Edwards and Kantas wants to speak with other investors who have suffered losses while working with barred Morgan Stanley financial advisor Jesus Rodriguez. Our broker embezzlement attorneys represent US investors and non-US citizens residing abroad that worked with a US-based financial advisor.

Brokerage firms are supposed to properly supervise their registered representatives and protect customers from broker misconduct, including misappropriation and theft. Unfortunately, supervisory failures and negligence can allow many bad brokers that are employed with broker-dealers to defraud investors.

You want to work with a skilled broker misconduct law firm that has the resources, skills, and knowledge to build a solid claim on your behalf and maximize your chances for a full recovery.

Call our Broker Embezzlement Lawyers at (800) 259-9010 or contact us online today.