Morgan Stanley Faces Accountability for Ex-Advisor's Ponzi Scheme

Victims of a Ponzi scheme orchestrated by a former Morgan Stanley financial advisor are seeking accountability from the firm, claiming that Morgan Stanley has resisted their efforts to recover their losses and is still holding them responsible for lines of credit that the advisor fraudulently convinced them to open. The advisor, Shawn Edward Good, ran a $7 million scam targeting Morgan Stanley clients for over a decade, using a Morgan Stanley product known as a Liquidity Access Line of Credit. Good spent the money on personal expenses, leaving victims in financial ruin. While Good has been sentenced to over seven years in prison, victims argue that Morgan Stanley should be held responsible for failing to reasonably supervise its employee.