Tr?id=566623520170033&ev=PageView&noscript=1

Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud

Posted on June 2nd, 2023 at 1:26 PM
Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud

From the desk of Jim Eccleston at Eccleston Law 

Shawn E. Good pleaded guilty in September to wire fraud and money laundering charges based on allegations that he had operated a decade-long Ponzi scheme from 2012 to 2022. 

Good raised money by encouraging clients to take out loans against their portfolio to invest in tax-free municipal bonds but instead had them wire the money to their personal bank and then to his bank accounts. Additionally, Good used new investor funds to pay old investors.

Good has been sentenced to seven years and three months in prison for stealing almost $7.25 million from around a dozen former customers, according to an announcement from the U.S. Attorney's Office for the Eastern District of North Carolina. Good also was ordered to pay $3.6 million in restitution as part of his guilty plea.

According to AdvisorHub, Good was discharged in February 2022 for declining to cooperate with Morgan Stanley’s review following client complaints. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have barred Good from the securities industry.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory and disciplinary matters.

 

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

1773760408 Law
March 17, 2026
Bankruptcy Court Orders Emerson Equity to Produce Records in Inspired Healthcare Case

A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.

1773678753 Law
March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.

1773412367 Law
March 13, 2026
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.