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Ex-Morgan Stanley Employee Must Repay $31.1M

Friday, Jan 03 2014
Regulatory & Compliance
Written by  PFA News

A U.S. District Judge in Manhattan has ruled that Joseph “Chip” Skowron, who has been convicted of insider trader, must return $31.1 million in compensation to Morgan Stanley, his former employer. So reports Reuters.

Skowron had plead guilty to charges related to claims that he used insider trading to cover $30 million in losses while heading up Morgan Stanley’s hedge fund unit, FrontPoint Partners. Read the full article from Reuters.

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