Morgan Stanley fired a financial advisor for working with the FBI to uncover a gas station rebate scam, the former employee claims in court.
Courthouse News Service reports that John Verble sued Morgan Stanley Smith Barney LLC and Morgan Stanley last week in the Knoxville, Tenn., Federal Court for retaliatory discharge, harassment and discrimination.
Verble was a financial advisor for Morgan Stanley making more than $350,000 a year when he was fired for helping the FBI investigate the company's alleged fraud, according to the complaint.
He says he became aware of 'numerous criminal activities' being committed by Morgan Stanley clients, including insider trading. Verble's cooperation with the FBI resulted in 10 former employees of gas station chain Pilot Flying J pleading guilty to fraud in a fuel rebate scheme, the lawsuit states.
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