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James Polese Was Terminated for Allegedly Missappropriating Client Assets

James PolesePublicly available records published by the Financial Industry Regulatory Authority (FINRA) and AdvisorHub, and accessed on August 14, 2017, indicate that former Boston-based Morgan Stanley broker/adviser James Polese was recently terminated from Morgan Stanley and is under investigation by the FBI. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Polese (CRD# 2636427).

James Polese has spent 21 years in the securities industry and was most recently registered with Morgan Stanley in Boston, Massachusetts (2010-2017). Previous registrations include UBS Financial Services in Boston, Massachusetts; Wachovia Securities in St. Louis, Missouri; and Prudential Securities in New York, New York. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one pending customer complaint and was discharged from his former employer.

In June 2016 he was terminated from his position at Morgan Stanley following allegations of “conduct involving misappropriating client assets.”

In May 2017 a customer alleged James Polese, while employed at Morgan Stanley, misrepresented material facts related to managed account fees. The customer is seeking unspecified damages in the pending complaint.

An August 9, 2017 article by AdvisorHub reported that Mr. Polese may be under FBI investigation. “The Federal Bureau of Investigation has interviewed at least one client of James Polese, a Boston-area broker who Morgan Stanley has dismissed for allegedly misappropriating client assets,” the article stated. It reports additionally that “Morgan Stanley dismissed Polese and fellow broker Cornelius ‘Cory’ Peterson on June 26 for ‘allegations of conduct involving misappropriation of client assets,’ according to their BrokerCheck records,” and that “Peterson did not return a message sent to him on a social-media site.” The FBI “does not comment on whether it is investigating specific incidents,” AdvisorHub notes as well.

If you or someone you know has a complaint regarding James Polese, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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