Ex-Morgan Stanley Worker Charged in Data Theft
A former Morgan Stanley (MS) employee was arrested Wednesday in connection with the alleged theft of a list of hedge fund clients in the firm's prime brokerage business and the rates it charges them, prosecutors said.
[He] sent copies of Morgan Stanley's client rate list and other proprietary Morgan Stanley documents from his email at an unnamed midtown Manhattan company to his personal email at least five times between December 2005 and February 2006. The unnamed company negotiates on behalf of hedge funds the rates they pay for Morgan Stanley's prime brokerage services, according to the complaint.
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