January 31, 2018 / 3:43 PM / 6 months ago

Two ex-Morgan Stanley advisers to plead guilty to U.S. fraud charges

BOSTON, Jan 31 (Reuters) - Two former Morgan Stanley advisers have agreed to plead guilty to U.S. charges that they misused client funds to make their own investments in a wind farm project, federal prosecutors said on Wednesday.

Federal prosecutors in Boston said James Polese, 51, and Cornelius Peterson, 28, misappropriated $500,000 to invest in and support the wind farm project. Polese also used funds from a client’s account to pay for personal expenses, prosecutors said. (Reporting by Nate Raymond in Boston)

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