Back in January, client information from roughly 730,000 accounts at Morgan Stanley mysteriously made its way to the internet. Early on in the investigation, it appeared as though Galen Marsh, a young financial adviser with the firm, was responsible for the data dump. But that turned out not to be the case! Marsh only stole the information from his employer's server, and then put it on his not super-secure laptop; it was a bunch of hackers who accessed the 411 and transferred it to the world wide web. So, Marsh was basically only half as guilty as initially expected, and for the 50% of the crime that he was responsible for, he pleaded guilty today.
Marsh, who worked in Morgan Stanley's private wealth management division, entered the plea in federal court in Manhattan, according to court records...While improperly accessing the client information, Marsh was in talks about landing a new job with two Morgan Stanley competitors, the documents said...The bank said in January that information from around 900 client accounts linked to the breach was briefly posted online. But Marsh's attorney, Robert Gottlieb, said on Monday his client never posted, sold or disclosed any of the data he took. "The truth is that the Internet disclosures were the result of outside hackers, and he had absolutely nothing to do with it," Gottlieb said, adding that he is hopeful Marsh will not be sentenced to any prison time.