• 19 Jan 2010 at 4:54 PM

Ex-Morgan VP Will Fist Pump In Prison

By

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?)

Comments (19)

  1. 1
    Posted by guest | January 19, 2010 at 12:58 PM

    Yale thing?

  2. 2
    Posted by guest | January 19, 2010 at 1:01 PM

    Yale thing = fisting?

  3. 3
    Posted by guest | January 19, 2010 at 1:06 PM

    @2 please keep up.

  4. 4
    Posted by guest | January 19, 2010 at 1:11 PM

    This guy deserves some yail time

  5. 5
    Posted by guest | January 19, 2010 at 1:20 PM

    fist pump?

  6. 6
    Posted by guest | January 19, 2010 at 1:21 PM

    Shazturbing display.

  7. 7
    Posted by guest | January 19, 2010 at 1:32 PM

    Pump is Garaventa's cellmate.

  8. 8
    Posted by Fail? | January 19, 2010 at 1:42 PM

    No sweat. He'll make yail soon.

  9. 9
    Posted by guest | January 19, 2010 at 1:46 PM

    Yael thing = fisting

  10. 10
    Posted by guest | January 19, 2010 at 1:47 PM

    Not before he gets yailed in the ass I bet.

  11. 11
    Posted by guest | January 19, 2010 at 3:33 PM

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

  12. 12
    Posted by guest | January 19, 2010 at 3:39 PM

    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. 13
    Posted by guest | January 19, 2010 at 5:53 PM

    @12 and now they're both shitholes.

  14. 14
    Posted by guest | January 20, 2010 at 2:32 AM

    Karma comes into play when you are reincarnated.

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