SHAWN E GOOD Barred by FINRA and SEC Complaint Filed

On April 14, 2022, SHAWN EDWARD GOOD (SHAWN E GOOD, CRD#: 2022168) was barred by FINRA from acting as a broker or otherwise associating with a broker/dealer firm. Good was previously registered both as a broker and as an investment advisor. There was also a complaint filed against Good by the SEC on April 18, 2022, which is currently pending.
According to the FINRA report, without admitting or denying the findings, SHAWN E GOOD consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation concerning a Form U5 filed by his member firm.
FINRA’s findings stated that the firm filed the Form U5 disclosing that it had terminated Good’s registration because he allegedly declined to cooperate with an internal firm review following client accusations.
In a recent article from AdvisorHub, it states that SHAWN E GOOD, a 55 year-old former advisor from Morgan Stanley of Wilmington, North Carolina, was sued by federal securities regulators for allegedly using clients’ money to pay for personal expenses including a Tesla car, credit card bills, totaling over $800,000.00 and cash transfers, according to the SEC.
SHAWN E GOOD, according to AdvisorHub, allegedly had his clients send funds to his own personal bank account to make low-risk investments in real-estate development projects, according to a U.S. Securities and Exchange Commission (SEC) complaint filed in federal court. According to the SEC, SHAWN E GOOD allegedly defrauded investors which included retirees, out of at least $4.8 million, resulting in over $2 million in losses.
The AdvisorHub article stated that SHAWN E GOOD’s alleged “Ponzi-like” scheme went on for approximately ten years. Allegedly, Good used clients’ money to pay bills, reimburse other investors and to transfer cash on Venmo for transactions with subject lines such as “because you’re sexy” and “Hotel for Destiny.” According to the SEC, Good allegedly told his clients that the purchases he was making on their behalf were low-risk and would pay returns between 6% and 10% over three to six months, but he never provided a written agreement to the clients.
According to FINRA’s BrokerCheck, SHAWN E GOOD had 31 years of experience in the securities industry and had 3 disclosures on his FINRA CRD report.  Good was listed with 3 firms, the most recent is listed below:
12/06/2012 - 03/10/2022   MORGAN STANLEY   -  WILMINGTON, NC
If you or an elderly loved one suffered losses due to the actions or recommendations of the former broker/financial advisor, SHAWN E GOOD, formerly of Morgan Stanley of Wilmington, North Carolina, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.