Ex-Morgan Stanley Adviser Admits Stealing More Than $6 Million From Clients
This article is for subscribers only.
A former Morgan Stanley investment adviser admitted stealing more than $6 million from clients and using the money to pay his mortgage, credit card bills and country club membership fees.
Michael Barry Carter, 47, pleaded guilty Monday to wire fraud and investment adviser fraud for making at least 53 unauthorized transfers from client accounts to his own, Maryland U.S. Attorney Robert Hur said in a statement.