{"id":1087,"date":"2012-07-03T17:29:56","date_gmt":"2012-07-03T17:29:56","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/07\/texas_securities_roundup_morga"},"modified":"2022-07-22T08:28:46","modified_gmt":"2022-07-22T13:28:46","slug":"texas-securities-roundup-morga","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/","title":{"rendered":"Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, &#038; Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe"},"content":{"rendered":"<p>\t\t\t\tIn Dallas County Court, 11 investors are suing <a href=\"https:\/\/www.investorlawyers.com\/morgan-stanley-background-information.html\">Morgan Stanley Smith Barney <\/a>and its financial adviser Delsa Thomas for bilking them in an alleged<a href=\"https:\/\/texas.stockbroker-fraud.com\/\"> Texas Ponzi scam<\/a>. They say that Thomas &#8220;took advantage of their trust in her when she suggested that they invest in Tejas Eagle Financial LLC. (She gave them the choice of investing $250,000 or $125,000.) They invested hundreds of thousand dollars of their retirement money and savings. <\/p>\n<p>The plaintiffs contend that the financial firm breached its duty of care to them by allowing Thomas to give them unsuitable financial advice that &#8220;would destroy their investments.&#8221; They are seeking damages for negligent misrepresentation, fraud, negligent supervision, and vicarious liability. <\/p>\n<p>In other<a href=\"https:\/\/texas.stockbroker-fraud.com\/\"> Texas securities <\/a>news, ex-Stanford Financial group chief investment officer Laura Pendergest Holt has pled guilty to charges that she obstructed the SEC&#8217;s probe into Stanford International Bank, which was owned by Ponzi scammer Robert Allen Stanford. Holt, who testified before the Commission about SIB&#8217;s investment portfolio, now admits that she did so as a &#8220;stall tactic&#8221; to impede the agencies efforts to get key information. Stanford is behind bars for running a $7 billion Ponzi scam.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/\"  title=\"Continue Reading Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, &#038; Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In Dallas County Court, 11 investors are suing Morgan Stanley Smith Barney and its financial adviser Delsa Thomas for bilking them in an alleged Texas Ponzi scam. They say that Thomas &#8220;took advantage of their trust in her when she suggested that they invest in Tejas Eagle Financial LLC. (She gave them the choice of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3792,3888,3750,3938],"tags":[],"class_list":["post-1087","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-ponzi-scams","category-stanford-group-co","category-texas-securities-fraud","category-whistleblowers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, &amp; Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe &#8212; Investor Lawyers Blog &#8212; July 3, 2012<\/title>\n<meta name=\"description\" content=\"In Dallas County Court, 11 investors are suing Morgan Stanley Smith Barney and its financial adviser Delsa Thomas for bilking them in an alleged Texas &#8212; July 3, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, &amp; Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe &#8212; Investor Lawyers Blog &#8212; July 3, 2012\" \/>\n<meta name=\"twitter:description\" content=\"In Dallas County Court, 11 investors are suing Morgan Stanley Smith Barney and its financial adviser Delsa Thomas for bilking them in an alleged Texas &#8212; July 3, 2012\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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Investor Lawyers Blog &#8212; July 3, 2012","twitter_description":"In Dallas County Court, 11 investors are suing Morgan Stanley Smith Barney and its financial adviser Delsa Thomas for bilking them in an alleged Texas &#8212; July 3, 2012","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, &#038; Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe","datePublished":"2012-07-03T17:29:56+00:00","dateModified":"2022-07-22T13:28:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/"},"wordCount":597,"articleSection":["Financial Firms","Ponzi Scams","Stanford Group Co.","Texas Securities Fraud","Whistleblowers"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/","url":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-roundup-morga\/","name":"Texas Securities Roundup: Morgan Stanley Smith Barney Sued Over Financial Adviser\u2019s Ponzi Scam, Judge Dismisses Ex-GE Executive Whistleblower\u2019s Lawsuit Over His Firing, & Ex-Stanford Financial Group CIO Pleads Guilty to Obstructing the SEC\u2019s Probe &#8212; 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