Advisor Alert: Our Attorneys Are Investigating Shawn Edward Good For Investment Fraud
Did You Lose Money Because of Shawn Good?
Filed: February 1, 2024
Shawn Good currently has one (1) pending civil event. Overall, he has been the subject of two (2) regulatory events, one (1) civil event, and 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 Shawn Edward Good.
Who Is Shawn Edward Good?
- Advisor Name: Shawn Edward Good
- Aliases: Shawn Good
- CRD: 2022168
- Location: Wilmington, North Carolina
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Morgan Stanley, Wells Fargo Advisors, LLC, and Charles Schwab & Co., Inc.
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 2
- Number of Known Civil Events: 1
- Can Shawn Good Be Sued: Yes, in Private Arbitration
- Can Shawn Good’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $2,275,000
- Highest Settlement: $2,762,000
If you have suffered investment losses by Shawn Good, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud 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 Shawn Good For Broker Misconduct
As of this publication date, Shawn Good has been the subject of 2 regulatory events, 1 civil event, and 4 customer disputes. Let’s review them below.
In September 2023, a FINRA arbitration was filed against or in reference to Shawn Good by a customer of Morgan Stanley alleging, inter alia, fraud with respect to funds from Portfolio Loan Account invested in outside real estate investment from March 2018 to September 2022. Per the customer, he/she lost over $150,000 because of Mr. Good’s actions. On December 1, 2023, Mr. Good settled the claim for $150,000, and some or all of this amount may have been paid by Mr. Good’s employer and/or insurance carrier.
In February 2023, United States Securities and Exchange Commission initiated a regulatory action against or in reference to Shawn Good for allegedly perpetrating a multi-year Ponzi scheme which involved his clients at Morgan Stanley, and that in doing so, he defrauded his clients of at least $4.8 million, resulting in more that $2 million of investor losses.
In April 2022, a FINRA arbitration was filed against or in reference to Shawn Good by a customer of Morgan Stanley alleging, inter alia, that Mr. Good misappropriated funds by soliciting an outside real estate investment opportunity to client – 2015 to 2018. On June 2, 2023, Mr. Good settled the claim for $175,000, and some or all of this amount may have been paid by Mr. Good’s employer and/or insurance carrier.
In April 2022, a FINRA arbitration was filed against or in reference to Shawn Good by multiple customers of Morgan Stanley alleging, inter alia, that Mr. Good misappropriated funds from claimants’ liquidity access line accounts from August 2019 to February 2022. Per the customers, they lost over $2,275,000 because of Mr. Good’s actions. On August 17, 2023, Mr. Good settled the claim for $2,762,000, and some or all of this amount may have been paid by Mr. Good’s employer and/or insurance carrier.
In April 2022, FINRA initiated a regulatory action against or in reference to Shawn Good for refusing to appear for on-the-record testimony requested by FINRA in connection with its investigation concerning a Form U5 filed by his member firm. The findings stated that the firm filed the Form U5 disclosing that it had terminated Good’s registration because he declined to cooperate with an internal firm review following client accusations.
In April 2022, United States Securities and Exchange Commission initiated a civil action against or in reference to Shawn Good concerning a multi-year Ponzi scheme perpetrated by Good involving his clients at Morgan Stanley Smith Barney, LLC (“Morgan Stanley”). Good defrauded his clients – novice investors who trusted him, including retirees and a single mother of young children – of at least $4.8 million, resulting in more than $2 million of investor losses.
In September 2011, a FINRA arbitration was filed against or in reference to Shawn Good by a customer of Wells Fargo Advisors, LLC alleging misrepresentation of an Ohio national annuity sold in the client’s account.
How To File A Claim Against Shawn Good (previously with Morgan Stanley, Wells Fargo Advisors, LLC, and Charles Schwab & Co., Inc.) To Get Your Money Back
If you have questions about Shawn Good, Morgan Stanley, Wells Fargo Advisors, LLC, Charles Schwab & Co., Inc., 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.