Advisor Alert: Our Attorneys Are Investigating Scott Paul Schlett For Investment Fraud
Did You Lose Money Because of Scott Schlett?
Filed: March 11, 2024
Scott Schlett currently has one (1) pending customer complaint. Overall, he has been the subject of four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Scott Paul Schlett.
Who Is Scott Paul Schlett of Morgan Stanley?
- Advisor Name: Scott Paul Schlett
- Aliases: Scott Schlett
- CRD: 2111952
- Location: Paramus, New Jersey
- Current Employer: Morgan Stanley
- Previous Firms: Morgan Stanley & Co. Incorporated
- Number of Known Customer Complaints: 4
- Can Scott Schlett Be Sued: Yes, in Private Arbitration
- Can Scott Schlett’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $500,000
- Highest Settlement: $400,000
If you have suffered investment losses by Scott Schlett, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a portfolio mismanagement lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Scott Schlett For Broker Misconduct
As of this publication date, Scott Schlett has been the subject of 4 customer disputes. Let’s review them below.
In July 2023, a complaint was filed against or in reference to Scott Schlett by a customer of Morgan Stanley alleging willful disregard of financial responsibility with respect to option trading in his account 2022-2023. Per the customer, he lost over $500,000 because of Mr. Schlett’s actions.
In February 2023, a FINRA arbitration was filed against or in reference to Scott Schlett by a customer of Morgan Stanley Smith Barney alleging that the client’s account was not managed in her best interests – 2019 to 2020. Per the customer, she lost over $400,000 because of Mr. Schlett’s actions. As of this publication date, this claim remains pending.
In December 2018, a complaint was filed against or in reference to Scott Schlett by a customer of Morgan Stanley Smith Barney alleging unsuitability with respect to trading in client’s account – November 2018 to December 2018. On April 23, 2019, Mr. Schlett settled the claim for $1,617.73, and some or all of this amount may have been paid by Mr. Schlett’s employer and/or insurance carrier.
In May 2008, a complaint was filed against or in reference to Scott Schlett by a customer of Morgan Stanley & Co. Incorporated alleging that investment in auction rate securities is not suitable for his investment objectives of maintaining liquidity. On July 7, 2009, Mr. Schlett settled the claim for $400,000, and some or all of this amount may have been paid by Mr. Schlett’s employer and/or insurance carrier.
How To File A Claim Against Scott Schlett of Morgan Stanley (previously with Morgan Stanley & Co. Incorporated) To Get Your Money Back
If you have questions about Scott Schlett, Morgan Stanley, Morgan Stanley & Co. Incorporated, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.