Morgan Stanley Staffer Steals Bonus


Here’s one way to ensure that you don’t get stiffed on your bonus:

Bloomberg: An ex-Morgan Stanley vice president was arrested and accused of stealing $2.5 million from the company over seven years, a prosecutor said.

Richard Garaventa, a former vice president in operations, was arrested yesterday in New Jersey. He allegedly wrote checks to a company he created, according to a prosecutor who declined to be identified.

Mary Claire Delaney, a spokeswoman for New York-based Morgan Stanley, said in a telephone interview Garaventa was fired after the alleged theft was discovered.

Larry Fredella, a lawyer who represents Garaventa, said his client is presumed innocent. He declined to detail the charges, other than to say he believed they include grand larceny.