FINANCIAL ADVISOR BARRY CONNELL FROM CHESTER, NEW JERSEY ARRESTED
Have you lost money with financial advisor Barry Connell of Chester, New Jersey? We are investigating allegations made by nj.com against Barry Franklin Connell. Connell, who was a former representative of Morgan Stanley in Ridgewood, was alleged to have stolen nearly $5,000,000 from clients.
It was alleged that during late 2015 and early 2016, Connell made unauthorized withdrawals from his clients’ accounts totaling at least $5 million. He was alleged to have used that money on “exorbitant personal expenses” including country club membership fees, private jet trips, and credit card bills. Connell was arrested while he was in Henderson, Nevada.
Barry Connell was a financial advisor and registered representative of Morgan Stanley from June 2009 to November 2016. He worked at branch offices in Ridgewood, New Jersey. Connell has been the subject of three customer complaints. He was terminated by Morgan Stanley in November 2016.
Brokerage firms like Morgan Stanley have the responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Chicago; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Morgan Stanley.
Click to view: Connell, Barry BrokerCheck 2.4.17
IF YOU LOST MONEY WITH BARRY CONNELL, OR MORGAN STANLEY, PLEASE CONTACT US AT (206) 795-5798 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.