Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Former Morgan Stanley Broker Cornelius Peterson Barred

Former Morgan Stanley broker Cornelius Peterson of Newton Massachusetts was recently barred from acting as a broker after allegedly participating in various fraud schemes that resulted in client losses totaling $500,000.

Cornelius Peterson worked with Morgan Stanley as a broker until June 2017 when he was discharged for his role in allegedly defrauding clients and misappropriating client funds.

According to a press release recently issued by the U.S. Attorney's Office for the District of Massachusetts, Peterson allegedly collaborated with a fellow broker, James Polese, to misappropriate $500,000 of their clients' money. They used a large portion of the money as security to invest in an unauthorized wind farm project. In addition, Peterson made numerous unauthorized withdrawals from a client's account totaling nearly $100,000 and used those funds to pay off personal debts and expenses including credit card bills and college tuition fees. An estimated $450,000 was misappropriated from a single elderly client.

Peterson is no longer registered, and FINRA has barred him from acting as a broker or associating with any member firm.

Did You Suffer Financial Losses While Working with Cornelius Peterson?

Unfortunately, investment fraud happens far more often than it should. If you or someone you know lost money while working with Cornelius Peterson, Meyer Wilson would like to hear from you. Give our office a call at (888) 390-6491 today to talk to one of our experienced investment fraud attorneys.

Related Posts:

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram