Barry Connell Allegedly Siphoned up to $5 Million from Clients & Purportedly Used Investor Funds on Personal Expenses Including Luxury Cars & Private Jets
Barry Connell, 50, and a former wealth manager with Morgan Stanley, allegedly siphoned up to $5 million from clients, according to SEC Documents currently under review by attorney Alan Rosca. Connell allegedly purportedly used investor funds on personal expenses, said Documents note, and the SEC has allegedly filed related civil charges against Connell.
Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating activity related to Barry Connell’s alleged theft of client funds. Investors who believe they may have lost money in activity related to Barry Connell’s alleged theft of client funds are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Connell, a Chester, New Jersey resident, has been arrested in a Las Vegas suburb and is now looking at criminal charges of stealing roughly $5 million from clients, the SEC notes. Connell, furthermore, has also been charged with alleged wire fraud and alleged aggravated identity theft, according to the office of U.S. Attorney Preet Bharara in Manhattan.
It should also be dually noted that Connell worked for a decade at UBS Group AG before signing with Morgan Stanley in 2008, according to Connell’s FINRA BrokerCheck Report.
Barry Connell Allegedly Stole Cash from Customer Accounts of a Married Couple; Connell Allegedly Executed over 100 Unauthorized Transfers
Barry Connell, from December 2015 to November 2016, allegedly stole money from the client accounts of a married couple and their daughter, according to the aforementioned SEC Documents presently being reviewed by attorney Alan Rosca.
Connell also allegedly executed over 100 unauthorized transfers while purportedly telling his employer that he had client permission, according to Court Reports from New Jersey.
Connell allegedly used the aforementioned and allegedly stolen cash on a lavish lifestyle including private jets, luxury cars, and country club memberships, according to SEC Documents.
It must also be stated that Morgan Stanley is not named in court papers, and that the bank was not accused of wrongdoing, the SEC notes.
Securities Lawyer Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Barry Connell’s alleged theft of client funds. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Barry Connell’s alleged theft of client funds may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.