Compliance Management, Threat Management, Privacy

Former Morgan Stanley adviser pleads guilty to stealing data

A former Morgan Stanley financial adviser who was fired for stealing the data of approximately 730,000 clients pleaded guilty to one count of unauthorized computer access in a federal court in New York on Monday.

Galen Marsh stole the information between June 2011 and December 2014 to use for his own personal advantage, according to a Department of Justice (DOJ) release. Bank officials caught on to his actions after discovering the data of more than 900 clients posted online.

“Marsh's illegal access of this data put the confidential information of those clients at risk when he put the information on his personal server,” FBI Assistant Director-in-Charge Diego Rodriquez said in the release.

He is scheduled for sentencing Dec. 7 and faces a maximum sentence of five years in prison and three years of supervised release. 

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