Small Claims Guide   Class Actions   Lemon Laws   FAQ   Newsletters  

Complain about a product or service

Automotive    Education    Employment    Electronics    Family    Finance    Health    Homeowners    Insurance    Pets    Shopping    Travel     Print This     Email This    

NEWS   Latest |  Archives |  Auto |  Cells, etc. |  Computers |  Financial |  Health |  Homeowners |  Parents |  Privacy |  Scams |  Seniors |  Travel

Former Morgan Stanley Employee Arrested On Data Theft Charges

By Martin H. Bosworth

April 5, 2007

Data Theft

T-Mobile: No Hacking in Data Breach
T-Mobile Confirms Data Breach
Consumers Increasingly Concerned About Online Transactions
Are Identity Theft Services Worth the Cost?
Online Tools Help Spot Financial Fraud
Financial Fraud Hits 7.5 Percent Of Americans In 2008
Feds Charge Mortgage Broker In Potential Data Breach
Millions of Credit Cards Exposed in Data Breach
2008 Data Breach Total Soars
Bank Data Breach Threatens 248,000 in North Carolina
GPS Not Foolproof
Countrywide Warns Millions of Data Breach
Thieves Steal AT&T Laptop with Employee Data
Report: Data Breach Disclosure Laws Don't Affect Identity Theft
Patient Information Exposed in Data Breach at Walter Reed
Supermarket Chain Reports Data Breach
Report: Feds Still Not Doing Enough To Secure Data
Data Thieves Hit Georgetown University Students, Faculty
800,000 Job Seekers At Risk In Gap Data Breach
TJX Data Breach Settlement Has Strings Attached
More ...

A former Morgan Stanley client service representative was arrested and charged with stealing proprietary information relating to the brokerage firm's hedge fund clients. Ronald Peteka surrendered yesterday and was charged with conspiracy, according to the U.S. Attorney's office in New York.

Peteka is alleged to have accessed information on Morgan Stanley's hedge fund clients and the rates they pay while he worked for another company, and sending the information to his personal e-mail account several times between December 2005 and February 2006.

Peteka received the documents from Ira Chilowitz, a former computer consultant for the firm. Peteka is accused of using the information from Chilowitz to help set up his own financial consulting business with another unidentified Morgan Stanley employee.

Chilowitz was arrested in July on charges of conspiracy, theft, and unauthorized computer access in July 2006. He pled guilty to the charges in February 2007.

A U.S. magistrate judge set bail for Peteka at $35,000 at his hearing in federal court. Neither Peteka or his lawyers had any comment.

"The actions by the U.S. Attorney's Office today are just a continuation of those undertaken last summer, which were based on information supplied by Morgan Stanley," the company said in a statement. "A second individual has now been arrested and charged in connection with the misappropriation of proprietary and confidential firm data.

"Morgan Stanley continues to place the highest priority on maintaining the integrity of confidential information," the company said.

Ironically,the British branch of Morgan Stanley's Consumer Banking division released a report in January 2007 predicting a rise in identity theft and related crimes. The report cited young people as being the most vulnerable, due to reuse of passwords and not shredding documents with personal information.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Follow us on Twitter.


The Daily Consumer
Afternoons M-F

Sign up now!

Consumer News & Alerts
Every Sunday

Sign up now!



Back to the top |


Custom Search
• Dealers
• Manufacturers
• Service
• Extended Warranties
• Lemon Laws
• Recalls
• Tires
• Transporters

• Aging
• Children, Parenting
• Recalls
• Dating
• Education
• Entertainment
• Pets
• Weddings
• Annuities
• Banks
• Credit Cards
• Debt Collection
• Debt Counseling
• Insurance
• Investing
• Loans
• Mortgages
• Payday Loans
• Student Loans
• Tax Prep

• Doctors
• Drugs, Pharmacies
• Health Clubs
• Hearing Care
• Hospitals
• Nursing Homes
• Nutrition, Diets
• Vision Care
• Weight Loss
• Appliances
• Cookware
• Furniture
• Home Improvements
• Lawn & Garden
• Movers
• Pools & Spas
• Realtors, Rental Agents
• Recalls
• Utilities

• Cable TV/DBS
• Cameras
• Cell Phones
• Computers
• Home Electronics
• Internet Access
• Local Phone Service
• Long Distance
• VoIP
• In-Home
• Online
• Retail Stores
• Sporting Goods
• Supermarkets
• Telemarketers

• Airlines
• Bus Lines
• Car Rental
• Cruises
• Hotels
• Travel Agents
• Trains

• Class Actions
• Complaint Form
• Small Claims Guide
• Lemon Laws
• Latest News
• Automotive
• Telecom
• Financial
• Health
• Homeowners
• Scams
• Seniors
• Travel
• More ...

• Automotive
• Children's Products
• Drugs
• Food
• Household Products
• Sporting Goods

• Privacy Policy
• Advertise With Us
• Newsroom
• Syndication
• Terms of Use

Terms of Use Your use of this site constitutes acceptance of the Terms of Use

Advertisements on this site are placed and controlled by outside advertising networks. does not evaluate or endorse the products and services advertised. See the FAQ for more information.

Company Response Welcome If complaints about your company appear on our site, we welcome your response. Please see the Response Form for more information.

For more information, see the FAQ and privacy policy. The information on this Web site is general in nature and is not intended as a substitute for competent legal advice. Inc. makes no representation as to the accuracy of the information herein provided and assumes no liability for any damages or loss arising from the use thereof. 

Copyright © 2003-2009 Inc.  All Rights Reserved.    The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission.