Whistleblower Lawyers Issue Statement on Kleptocratic Money Laundering Investigation Involving Morgan Stanley and Interactive Brokers

RALEIGH, N.C., Oct. 18, 2021 /PRNewswire/ -- Two attorneys, Patrick Mincey of North Carolina and Phil Brewster of Illinois, were recently discussed and quoted in the Miami Herald for their representation of a North Carolina whistleblower who exposed an alleged international conspiracy to launder more than $100 million through major U.S. securities firms, including Morgan Stanley and Interactive Brokers. 

The Miami Herald detailed the alleged conspiracy involving a network of international actors and firms collaborating to steal $2 billion from PDVSA, the state-owned oil company of Venezuela.  As part of the investigation, the Federal Bureau of Investigation, the U.S. Securities and Exchange Commission and other federal agencies are trying to determine why U.S. firms managed more than $100 million in securities for a suspicious Venezuelan businessman when the accounts displayed what authorities have listed as red flags for potential money-laundering activities.

U.S. authorities launched the investigation after attorneys Mincey and Brewster filed their client's whistleblower complaint with the SEC in 2019.  "Our client, Mark Coffey, has made heroic sacrifices to bring public attention to a systemic crisis within the American securities industry.  We are honored to represent Mark as he reveals this significant threat to U.S. national security and the integrity of the American financial system," Mincey and Brewster said in a joint statement.

Attorney Patrick M. Mincey is Chair of the White Collar, Government Investigations & Special Matters Group at Cranfill Sumner LLP in North Carolina.

Attorney Phil Brewster is the founding partner of Brewster Law Firm LLC in Winnetka, Illinois, a firm dedicated to whistleblower matters and government investigations.

ABOUT CRANFILL SUMNER LLP

Cranfill Sumner LLP serves clients in 28 practice areas.  For more information, visit www.cshlaw.com. 

ABOUT BREWSTER LAW FIRM LLC

Brewster Law Firm LLC is dedicated to whistleblower matters and government investigations. For more information, visit www.brewsteradvisory.com.

SOURCE Cranfill Sumner LLP

Related Links

https://www.cshlaw.com/

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