Broker Barry Connell charged by SEC, terminated from Morgan Stanley, Barred by FINRA
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Barry Connell, a FINRA registered representative from Chester New Jersey, previously affiliated with Morgan Stanley in Ridgewood New Jersey.
Barry Connell has been FINRA licensed to sell securities since 1998, and has been affiliated with Morgan Stanley since 2008. Prior to that Connell worked for UBS Financial Services in Pearl River, NJ.
In February, 2017 the Securities and Exchange Commission brought charges against Connell for misappropriating client funds. The SEC’s complaint alleges that beginning in 2015 Connell made numerous unauthorized withdrawals from client accounts by wiring money to accounts under his control. He then used these funds to pay for a rental home in Las Vegas, country club memberships, and private jet rentals, among other unauthorized expenditures.
The complaint alleges that over the course of eleven months, Connell made over 100 unauthorized transfers totaling approximately $5 million. In November, 2016 Morgan Stanley terminated Connell citing allegations of unauthorized transactions made for his own benefit.
FINRA hosts a database that the public can access to check the credentials of their financial advisors. The website, also known as broker check contains a listing for Barry Connell, who is reported to have been the subject of nine customer disputes and two regulatory actions. The most recent customer complaint was initiated in June, 2017 and alleges that Connell made unsuitable investements for an elderly client.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for an initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.