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Ex-Morgan VP Will Fist Pump In Prison

Richard Garaventa, a New Jersey former VP in the operations division of Morgan’s institutional securities business, was sentenced today to between two to six years prison for stealing $2.5 million from the bank.


He was fired last January and indicted last February. We could feel bad for the guy, as he did use the money to make his mortgage payments. On the other hand, he had the bad idea to also use it to buy “luxury goods,” (airline tickets to Aruba and Florida, at least $30,000 in jewelry purchases, car services and restaurants as well as to make tens of thousands of dollars in cash withdrawals) which well, kind of wipes out any ounce of compassion.
His scheme went on from 2001 to 2008 and was finally discovered during internal reviews of the in-house Morgan Stanley account while he was on a vacation paid for with stolen money. (Karma anyone?)

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19 Responses to “Ex-Morgan VP Will Fist Pump In Prison”

  1. guest says:

    Yale thing?

  2. guest says:

    Yale thing = fisting?

  3. guest says:

    @2 please keep up.

  4. guest says:

    This guy deserves some yail time

  5. guest says:

    fist pump?

  6. guest says:

    Shazturbing display.

  7. guest says:

    Pump is Garaventa's cellmate.

  8. Fail? says:

    No sweat. He'll make yail soon.

  9. guest says:

    Yael thing = fisting

  10. guest says:

    Not before he gets yailed in the ass I bet.

  11. guest says:

    "Morgan" is JP Morgan. I work at Morgan Stanley, and no one calls our company "Morgan." The correct shortened version is "MS."

  12. guest says:

    I used to work at Morgan (MS to generation next) back when Morgan Stanley was the bank and JPMorgan was a also-ran.
    Mother Morgan was also acceptable
    White shoes don't matter when you're a glorified edward jones now

  13. guest says:

    @12 and now they're both shitholes.

  14. guest says:

    Karma comes into play when you are reincarnated.

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