Notification to Former Morgan Stanley Broker Shawn Good’s Clients: Kaplan Rothstein Prüss Peraza P.A Continues its Inquiry in Light of the SEC’s Ponzi Scheme Allegations
Nationally recognized investor advocate law firm Kaplan Rothstein Prüss Peraza P.A is investigating allegations regarding former Morgan Stanley (NYSE: MS) broker Shawn Good. Mr. Good worked out of Morgan Stanley’s Wilmington, NC office.
According to the SEC’s complaint filed in April 2022, Morgan Stanley broker and financial advisor Shawn Edward Good raised at least $4.8 million from five clients, including retirees and a single mother, by falsely representing that their funds would be invested in tax-free North Carolina municipal bonds and land development projects. Good marketed the investments as “low-risk” and promised returns of 6 to 10 percent over three- or six-month periods, while instead using investor funds to pay purported returns to earlier investors and to finance personal expenditures. In September 2022, Good pleaded guilty to wire fraud and money laundering; court records ultimately confirmed at least 12 victims and approximately $7.2 million in total funds obtained through the scheme. In April 2022, FINRA permanently barred him from associating with any member firm in any capacity effective April 14, 2022 after he refused to appear for on-the-record testimony. In May 2023, Good was sentenced to 87 months (more than seven years) in federal prison for wire fraud and money laundering.
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Kaplan Rothstein Prüss Peraza P.A, is a well-recognized national law firm that represents retail and institutional investors who have lost money as a result of investment fraud or broker misconduct. Contact a KRP2 investment fraud lawyer for a FREE consultation about your potential claims. With offices in Miami, Los Angeles, West Palm Beach, New York, and Naples, Kaplan Rothstein Prüss Peraza represents investors nationwide. We can be reached at info@krp2.com or 888-578-6255. To learn more about KRP2, you can review our website at www.krp2.com.
