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Ex-Morgan Stanley Broker Pleads Not Guilty to Insider Trades

A longtime Morgan Stanley broker and financial adviser pleaded not guilty to trading on secret tips about pending mergers and acquisitions leaked by a Bank of AmericaCorp. consultant.

Michael Siva, 55, got the information from a close friend, James Moodhe, whose daughter was dating the consultant at the center of the case, Daniel Rivas, prosecutors said in an August indictment. In a statement, Morgan Stanley described Siva as a former wealth management employee and didn’t provide details about his apparent departure from the company.

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