An ex-Morgan Stanley adviser conned investors out of $4.8million in a 10-year Ponzi scheme to fund his lavish lifestyle and pay for his car, regulators have said.Shawn E. Good from Wilmington, , targeted 'novice investors' including retirees and a single mother with young children and little income in his craven scheme, the SEC said.The alleged swindler convinced the clients to part with their money into his personal bank account to supposedly make low-risk investments in real-estate development projects from 2012 until February this year, it has been claimed.
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