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

Meyer Wilson Investigating Claims Against Former Broker Nicholas Bonacci

The securities fraud attorneys at Meyer Wilson are currently investigating claims against former broker Nicholas M. Bonacci (CRD# 5358479).

According to the United States Securities and Exchange Commission (SEC), former Morgan Stanley & Co., LLC broker Nicholas M. Bonacci (CRD# 5358479) was suspended from associating with any securities brokerage firms for 12 months and is required to pay a $100,000 civil money penalty.

Through the course of their investigation, the SEC discovered that Bonacci misled clients while buying and selling residential mortgage-backed securities (RMBS) at Morgan Stanley. Part of his job involved working with customers to arrange trades by purchasing an RMBS from one customer and selling it to a different customer.

On five separate occasions in 2012, the SEC found that Bonacci either misled customers about how much Morgan Stanley initially paid for the RMBS and how much the firm would be compensated, and in some cases misrepresented that rather than arranging a trade between customers, he was in fact selling one customer an RMBS already owned by Morgan Stanley. Through his misconduct, Bonacci was able to generate more revenue for Morgan Stanley. He also became the co-head of the RMBS desk at Morgan Stanley in 2013.

The full details of Bonacci’s activities can be found in the SEC’s report, but according to the SEC, he generated approximately $920,000 for Morgan Stanley through the trades brokered after misleading clients. Morgan Stanley placed Bonacci on administrative leave in March of 2014. He eventually resigned from the firm in February of 2016.

If you lost money investing with former Morgan Stanley broker Nicholas Bonacci due to his misleading claims or statements, contact the investment fraud lawyers at Meyer Wilson today to discuss your claim. We may be able to help you recover some or all of your losses, and all cases are handled on a contingency fee basis, which means that we won’t charge any legal fees until we help you recover your money.

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

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

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

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
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