One of Morgan Stanley’s former real estate executives in China pleaded guilty on Wednesday to violating federal anticorruption laws as the American government continues to crack down on citizens who commit fraud and bribery abroad.
The executive, Garth R. Peterson, who once ran the Shanghai office of Morgan Stanley’s global real estate business, was charged with secretly acquiring millions of dollars’ worth of property investments for himself and a Chinese government official. The official, in turn, steered business to Morgan Stanley’s funds, the government said.
Mr. Peterson on Wednesday also settled a civil action brought by the Securities and Exchange Commission on the same matter.
Mr. Peterson, 42, an American citizen living in Singapore, faces a maximum of five years in prison and a fine of up to $250,000 over the criminal charge. Full story
