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Zamansky LLC Investigates Former Morgan Stanley Financial Advisor Shawn E. Good for An Alleged Ponzi Scheme

April 20, 2022 Active Cases & Investigations

Investment fraud attorney Jake Zamansky and his team are investigating potential legal claims on behalf of investors who were customers of former Morgan Stanley financial advisor, Shawn E. Good, in Wilmington, North Carolina.  On April 14, 2022, the Financial Industry Regulatory Authority (FINRA) permanently barred Mr. Good from any association with a securities broker-dealer for his failure to appear at an on-the-record interview during an investigation of his activities.  Previously, Mr. Good was terminated from Morgan Stanley for his failure to cooperate with the firm’s investigation of his activities.

Why We’re Investigating

The U.S. Securities and Exchange Commission sued Mr. Good alleging that he ran a decade-long Ponzi scheme that defrauded his Morgan Stanley clients out of nearly $4.8 million. Mr. Good allegedly told clients that they were investing in real-estate development projects and tax-free government bonds when in reality, he was using their funds to pay off other investors and his own personal expenses.   

Mr. Good allegedly told clients that his investments were ‘”low-risk” and would pay returns of between 6% and 10% over three-month or six-month terms.  Instead, Mr. Good allegedly used client funds to pay off $800,000 in credit card debt, make payments towards his Tesla and made several Venmo transfers with memo lines such as “because you’re sexy,” “tattoo,” “hotel for Destiny,” “nailz” and “shopping.”

Zamansky LLC is investigating potential claims by Mr. Good’s victims against Morgan Stanley for failure to supervise and respondeat superior. 

Let a Skilled Investment Fraud Attorney Help

FINRA Rule 3110 requires broker-dealers like Morgan Stanley to have reasonably supervisory systems and procedures to prevent this type of fraud by its financial advisors.   Anyone who was a victim of Mr. Good’s alleged Ponzi scheme at Morgan Stanley may have a legal claim to recover their losses through FINRA arbitration.

Please call an investment fraud attorney at (212) 742-1414 or for a free evaluation of your potential legal rights.

Client Reviews

“Jake Zamasky and his colleagues represented me in a FINRA arbitration case against a large multinational bank and succeeded in obtaining an award for the full amount of my investment losses. I would highly recommend the Zamansky firm for their experience in securities litigation, their level of detailed research and case preparation, and their ability to effectively fight for what’s right.”

Richard R.

“Throughout my entire case, Jake Zamansky was incredibly responsive and spent time walking me through each step of the process. He is professional and worked with my challenging schedule, even meeting with me nights and on weekends. He knew exactly which turn to take when it came to my case and yet was respectful of any decisions I wanted to make resulting in a positive outcome.”

Donald A.

“Jake Zamansky and his firm represented me in a FINRA arbitration case to recover investment losses. Jake and his team were very professional and worked very hard preparing for trial and then reaching a substantial settlement of our case. I would highly recommend them.”

William E.

“Jake Zamansky represented me in a FINRA arbitration case which allowed me to recover a substantial portion of investment losses. He is truly an expert in this space and I would highly recommend him to those investors who may have been been a victim of investment fraud.”

Chris K.

“Jake and his team did a great job communicating with me throughout the process of my lawsuit. I would recommend him to anyone looking to sue UBS for unethical practices.”

Mike A.
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