Former Morgan Stanley VP accused of embezzlement

February 18, 2009 02:58

A former Morgan Stanley vice president has been arrested on charges of embezzling more than $2.5 million from the investment bank. Richard Garaventa Jr. pleaded not guilty Tuesday at his arraignment in Manhattan's state Supreme Court on grand larceny and other counts. He faces up to 25 years in prison if convicted. Prosecutor Jeremy Glickman said the 36-year-old defendant was authorized to request or approve checks for certain corporate payments from one of the company's in-house accounts.

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