Why They Did This
& How They Did So
Efforts to Destroy Lives in the Name of Greed
MorganStanleyGate is also a story of absolute power run amok . . . like a bully on steroids.
And in exerting its absolute power, Morgan Stanley (with the assistance of Kirkland & Ellis) has regularly engaged in ruthless and unlawful tactics intended to completely destroy the lives of targeted individuals, in order to satisfy what is best described unbridled bravado in exerting influence and insatiable greed. And this has been prominently displayed on the national stage in prior scandals, where the reactions of those who found themselves as the unfortunate targets of Morgan Stanley’s wrath were widely publicized -- for each articulated a disturbing commonality, as noted below.
Former Morgan Stanley Associate
The Christian Curry Scandal (previously discussed in the Locales of a Perfect Storm section of this website) evolved to one of race and sexual orientation discrimination with other claimants later joining the lawsuit with similar allegations. In addition to their efforts to crush Mr. Curry, the revelations of this scandal included fraud, racketeering, corruption, defamation and “workplace mobbing”,¹ which are the same types of transgressions perpetrated against Mr. Young in MorganStanleyGate. Faced with a growing public relations fiasco and a potentially significant adverse monetary judgment, Morgan Stanley settled for an amount in excess of $50 million, with Mr. Curry receiving approximately $20 million.
" Morgan Stanley has no qualms
about destroying the life of an employee . . .
under no circumstances should I have been crushed like this"
– Christian Curry
Former Morgan Stanley Executive Director
The Allison Schieffelin Scandal centered on sex discrimination and further exposed “workplace mobbing”, and extensive instances of slander by Morgan Stanley. The Equal Employment Opportunity Commission (“EEOC”) ended up successfully prosecuting on behalf of Ms. Schieffelin and other former female employees at Morgan Stanley, which Morgan Stanley settled for $54 million, with Ms. Schieffelin receiving $12 million.
"Morgan Stanley engaged in unlawful practices
[to] destroy everything I had put my heart and soul into . . .
diminishing me from a somebody to a nobody"
– Allison Schieffelin
Billionaire Financier & CEO of Revlon
The Ron Perelman Scandal – This was also covered in the "Locales of a Perfect Storm" section and resulted in the $1.6 billion judgment,² which ended up ousting of Morgan Stanley’s CEO and General Counsel. In this matter, Morgan Stanley boldly articulated their plans (in a formal presentation, no less) to personally attack Mr. Perelman through a vicious smear campaign. In addition, Morgan Stanley was found to have engaged in fraud, and the national media finally reported on what many had long known – that Morgan Stanley and Kirkland & Ellis extensively engage in criminal obstruction of justice, and have done so with impunity.
" We were put on notice from
the outset, and Morgan Stanley was very clear,
that they were going to attack me personally
. . . it was a clear threat "
– Ron Perelman
The Magnitude of MorganStanleygate
While there is commonality in the picture that emerges from Morgan Stanley’s misdeeds in the Curry, Schieffelin and Perelman scandals, how far they are willing to go has yet to be publicly exposed – for the efforts made to marginalize and silence Spencer C. Young in MorganStanleyGate is truly astonishing when considering the full spectrum of their sponsored crimes -- in New York, North Carolina and even nationally. And this is simply because SO MUCH IS AT STAKE -- e.g., the reputations of scores of bank executives, attorneys and public officials, and potentially $ billions in franchise value should the full scope of their misdeeds become publicly known. Accordingly, MorganStanleyGate’s aftermath of destruction has been especially devastating, which is addressed in the next section, titled "The Aftermath".
1 A form of adult bullying where targeted employees are subjected to malicious lies to serve an insidious agenda of others in an organization
2 This was later overturned on appeal, based on a questionable legal technicality, which is still being challenged.