Sonn Law Group is investigating claims regarding Patrick James Manriquez (CRD #4073542, Beaumont, Texas). Manriquez recently submitted an AWC in which he permanently was barred from association with any FINRA member in any capacity. See FINRA Case #2015044013001 Manriquez was associated with Morgan Stanley from June 2009 until January 2015. The Form U-5 filed by Morgan Stanley to terminate Manriquez’s registration states that he voluntarily resigned following “allegations involving the representative’s role in certain fund wires out of client accounts and whether the funds had been sent to an account with the first name and address of a family member of the representative.”
Without admitting or denying the findings, Manriquez consented to the sanction and to the entry of findings that he converted $20,000 from his member firm’s customer for his personal use. The findings stated that Manriquez did this by submitting outgoing wire transfer requests, which the customer had not authorized, causing the firm to wire the funds from an account the customer owned to a third-party credit union account Manriquez’s mother owned.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Manriquez’s customers.
If you were a client of Morgan Stanley or Manriquez, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”