Ex-Morgan Stanley adviser ‘ran 10-year Ponzi Scheme conning novice investors out of $4.8 million’

He is accused of using $13,000 of stolen money to make payments towards his $60,000 Tesla Model 3, $23,000 towards his $45,000 Alfa Romeo Stelvio, and a staggering $800,000 towards his credit card bills.

Good sent $110,000 in Venmo payments with subjects lines including ‘because youre sexy’, ‘Hotel for Destiny’, ‘Nailz’ and ‘shopping’, the complaint said.

He was fired by Morgan Stanley in February after refusing to cooperate with an internal investigation, the SEC said in their action against the adviser.

They are seeking an injunction and the ‘disgorgement of ill-gotten gains’ against Good.

The filing stated: ‘Good told clients that he would use these funds to invest in land development projects and tax-free North Carolina state or municipal bonds on their behalf.

‘Good also told the clients that these investments were “low-risk” and would pay returns of between 6% and 10% over three-month or six-month terms, though Good never provided clients with prospectuses or written agreements to confirm these promised returns and other representations.’