Boston Advisor Cornelius Peterson Sentenced to Prison

Update: Morgan Stanley Advisor Cornelius Peterson – Fraud Charges According to reports, Cornelius Peterson, 29, a former Morgan Stanley advisor, was sentenced to 20 months in prison on June 28 after he admitted that he misused client funds to invest in and support a wind farm project that a friend had decided to start. Peterson along with his Morgan Stanley supervisor, James Polese, entered a guilty plea on fraud charges in January, after the pair was fired in June for allegations of misappropriating client funds. Between 2014 and 2017, Peterson and Polese allegedly transferred $500,000 out of two client accounts without the clients’ knowledge or consent.  Prosecutors allege that they used the money for a wind farm project, other investments and personal expenses. According to the prosecutor, the brokers allegedly withdrew $100,000 from a client account in August 2014 to invest in the wind farm project without authorization by Morgan Stanley, and in May 2015…

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