Morgan Stanley seeks to bar broker accused of shooting co-worker

Morgan Stanley seeks to bar broker accused of shooting co-worker
The firm asked for a restraining order against 90-year-old Leonard Bernstein in Oklahoma County District Court Tuesday that would bar him from its offices and from any contact with former colleagues.
JUL 06, 2022

Morgan Stanley is seeking to bar a 90-year-old financial adviser from its facilities after he was accused of shooting a co-worker at the company’s Oklahoma City offices last week. 

Leonard Bernstein shot Chris Bayouth as many as five times in the torso, back, leg and foot on Thursday, according to the Oklahoma City Police Department. Bayouth was hospitalized for his injuries and Bernstein was apprehended later the day of the incident and charged with shooting with intent to kill, according to the police.

Bernstein has since been released on $50,000 bail. Attempts to reach Bernstein were unsuccessful, with two phone numbers associated with him disconnected. A county jail spokesman said no lawyer was listed for Bernstein.

Morgan Stanley, which fired Bernstein on Friday, sought a restraining order on Tuesday in Oklahoma County District Court, seeking to bar him from the firm’s offices and having any contact with former colleagues. The bank said that he “remains a grave threat to the health and safety of Morgan Stanley’s employees and customers,” according to a court filing. 

“We are cooperating with the authorities and our thoughts are with our employee,” Morgan Stanley said in a statement.

Bernstein joined Morgan Stanley last year, according to the Financial Industry Regulatory Authority’s BrokerCheck. Bayouth joined the New York-based firm in 2009.

Latest News

GLP-1 users are trading retirement savings for their prescriptions
GLP-1 users are trading retirement savings for their prescriptions

A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.

Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors
Inspired Healthcare sale price of properties is 59% of $1.2 billion sold by advisors

The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.

Class action alleges Webull misled investors about China operations
Class action alleges Webull misled investors about China operations

Its SEC filings said one thing - a congressional probe said another.

Investors accuse Netcapital of inflating revenue through sham deals
Investors accuse Netcapital of inflating revenue through sham deals

Sham agreements allegedly padded revenue by 345%.

Pre-retirees are looking for flexibility, security, and guidance when it comes to retirement income: Cerulli
Pre-retirees are looking for flexibility, security, and guidance when it comes to retirement income: Cerulli

"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor