Morgan Stanley Guy Who Committed Hit And Run Provides Pretty Legit Excuse For Faux Pas

Author:
Publish date:
Updated on

Back in November, it was reported that last summer, Morgan Stanley financial adviser Martin Joel Erzinger, pictured, had driven over a doctor who was on his bike and then kept going, “until he reached a Pizza Hut parking lot, where he stopped and called Mercedes auto assistance to report the damage to his vehicle.” Dr. Steven Milo suffered damage to his knees and scapula, spinal cord injuries, bleeding to the brain, in addition to ‘disabling’ headaches and the possibility of multiple surgeries. The part of the story that was somewhat more shocking was that rather than be slapped with serious to quite serious charges, a court decided that for his crime, MJE would be hit with two misdemeanour traffic violations and restitution to the victim. People were somewhat outraged, to say the least. But! That was prior to hearing all of Marty's side of the story.

"New-car smell" might have contributed to a driver losing consciousness in a July hit-and-run accident, his lawyers claim. Martin Erzinger was driving a new 2010 Mercedes sedan when he rear-ended bicyclist Dr. Steven Milo, about 1:30 p.m. July 3.

Erzinger's attorneys say their client suffers from sleep apnea and fell asleep at the wheel before driving off U.S. Highway 6 and onto the shoulder near Miller Ranch Road, hitting Milo, who sustained injuries, from behind. Erzinger had purchased the car about a month before the accident. Accident reconstructionist John Koziol found in his investigation the sedan was emitting new car fumes, court documents said. It might have been a contributing factor, documents said.

Now, who feels like they judged too soon?

New Car Smell Cited In Hit And Run Case [DP]

Related

Guy Who Was Fired By Goldman Sachs For Amassing "Inappropriately Large" Position Welcomed With Open Arms At Morgan Stanley

Back in December 2007, things weren't going so well for Matthew Marshall Taylor. He'd just been fired from Goldman Sachs and not only was he out of a job, but his prospects for finding a new one didn't look so hot, on account of the fact that Goldman planned to put a note in his file detailing the reason he'd been let go-- "for building an 'inappropriately large' proprietary trading position"-- and it seemed unlikely anyone at the firm would be open to serving as a reference for him moving forward.  Three months later, however, one bank told MMT that there was room for him at their inn. Morgan Stanley, apparently having decided the incident at Goldman was but an asterisk in what would be a long and fruitful career, told Taylor to come on down, employing him for over four years until he left in July of his own accord and not because of any legal issues relating to his work at Goldman Sachs. Taylor was accused yesterday by the U.S. Commodity Futures Trading Commission of concealing an $8.3 billion position in 2007 that caused Goldman Sachs to lose $118 million. Goldman Sachs fired Taylor in December 2007 and cited “alleged conduct related to inappropriately large proprietary futures positions in a firm trading account,” in a so-called U-5 form, according to a Financial Industry Regulatory Authority document. Morgan Stanley, which had employed Taylor before he joined Goldman in 2005, re-hired him in March 2008, according to the records. Taylor, who handled client-related equity derivative trading at Morgan Stanley, left the firm in July, according to Mark Lake, a company spokesman in New York. His departure wasn’t related to the CFTC complaint filed against Taylor yesterday in federal court, according to a person familiar with the situation, who requested anonymity because the information is private. Taylor concealed the position by bypassing the firm’s internal system for routing trades to the Chicago Mercantile Exchange and manually entering fabricated futures trades in a different internal system, according to the complaint. Goldman Sachs, which wasn’t identified in the CFTC lawsuit, said Taylor allegedly made the trades while employed at the firm. Anyway, since MMT is a free agent at the moment, if any other banks would like to overlook the blip, please do get in touch directly. Citi, BofA? At least just think about it. He was good enough for Morgan Stanley, he should be good enough for you. Morgan Stanley Hired Goldman Trader Accused Of Hiding Position [Bloomberg] CFTC Charges Matthew Marshall Taylor with Fraud for Fabricating and Concealing Trades from His Employer and Obstructing Their Discovery [CFTC]