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The wirehouse filed a suit against Gregory Chevrier, claiming he was draining revenue going to the widow of a Morgan Stanley advisor by luring clients away.
Christopher Turean used the money he embezzled from an unnamed client to gamble and pay down a home equity loan, according to the Department of Justice.
Investing in venture capital funds targeting tech start-ups carries high risks and requires a tolerance for decades of illiquidity. But all it takes is one outperforming company to make it worth it.
The wirehouse claims that Zak Gardezy resigned from the firm and began soliciting former clients originally referred from Morgan Stanley’s E*Trade division.