Virginia Morgan Stanley Broker Charged With Stealing Millions

 The SEC and federal prosecutors recently charged a Mclean, Virginia based Morgan Stanley financial advisor with stealing millions of dollars from his customers from 2007 to 2019 when his fraud was discovered.  The SEC Complaint against the broker, Michael Barry Carter (also known as “Mike Carter”), can be found at

The SEC alleged that Michael Carter stole approximately $6 million by various means, including falsifying internal forms and wire transfers, providing fake account statements, using false email addresses, and making misrepresentations to his customers.

According to the SEC, Mr. Carter has plead guilty to related federal criminal charges.

FINRA securities firms such as Morgan Stanley have duties to supervise their registered representatives such as Mr. Carter, and implement reasonable supervisory systems to detect and prevent fraudulent activity.  Such firms can be held liable in FINRA arbitrations for the fraudulent acts of their agents, and for their failures to supervise.  If you were a victim of Mr. Carter, or any other fraudulent scheme relating to investments, and you would like to discuss your potential claims for free with any attorney, please contact W. Scott Greco at Greco & Greco, P.C. here:

W. Scott Greco has decades of experience recovering stolen funds on behalf of investors.


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