The big bank has been involved in a money laundering case linked to Venezuela’s former oil minister, according to the Wall Street Journal.
Morgan Stanley is listed on Wall Street with a market value of 178 billion dollars.
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Federal authorities such as the US Securities and Exchange Commission (SEC) and the FBI are investigating, among others, the US financial giants Morgan Stanley and Interactive Brokers, writes the Wall Street Journal on Thursday.
This in the wake of the fact that they were responsible for parts of the accounts of the Venezuelan businessman Luis Mariano Rodriguez Cabello.
He is under investigation for his role in allegedly helping his cousin, the former Venezuelan oil minister Rafael Ramírez, launder up to two billion dollars through the US financial system, according to the newspaper.
The Wall Street Journal refers to unnamed sources and government documents.
Rodriguez’s accounts are said to have had several “red flags” pointing to potential money laundering activity, and that is why the US authorities as part of the investigation are trying to find out why US banks and brokerages still handled more than 100 million dollars for him, it appears .
Both the SEC and the FBI have declined to comment on Wall Street Journal’s information. Nor has Morgan Stanley commented. Interactive Brokers writes to the newspaper that they can not comment on specific customers or accounts.
Neither Rodriguez nor Ramírez have been charged in the United States, it is emphasized. The two have not responded Wall Street Journals inquiries.
Morgan Stanley shares are down just under two percent on Wall Street on Thursday. The major bank has a market value of $ 178 billion.
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