Morgan Stanley to pay $200,000 Ponzi scheme fine

Morgan Stanley is set to pay a $200,000 fine to FINRA after allowing a client to conduct kite checks as part of a Ponzi Scheme. 

By Martin O'Sullivan (June 24, 2016, 3:19 PM EDT) -- Morgan Stanley has agreed to pay a $200,000 fine to the Financial Industry Regulatory Authority after it failed to promptly stop a client from kiting checks as part of a Ponzi scheme....

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