A 12-year affair with a mentally fragile elderly man could spell $400 million in damages for Morgan Stanley. That's because one of their brokers, Ami Forte, allegedly robbed her lover/client of millions over five years.
The long-standing affair between Forte and Roy Speer, who founded the Home Shopping Network, came up during an investigation into allegations that she ran 12,000 unauthorized trades through his accounts in the five years leading up to his death in 2012, the New York Daily News reports.
His widow, Lynnda, is suing Forte, claiming that she took advantage her husband as his health declined.
"He was wheelchair bound and diapered, could not drive, and was attended to daily by a full-time caregiver," Speer's lawyer, Johnson Pope Bokor Ruppel & Burns LLP, claim, according to Business Insider.
From 2007 to 2012, when Ami was given responsibility for her secret lover's significant wealth, the trades started showing up in his account. She allegedly pocketed $40 million in commissions; she may have had an accomplice.
"We're saying that that's a bunch of bulls–t," bank spokesman Jim Wiggins told the New York Post.
Morgan Stanley originally thought they would only be on the hook for $170 million, but that bill may jump thanks to Florida's Elder Exploitation Law. Her victim was elderly.
Their relationship evidently began in 1998, and she joined the firm in 2000. She was named a top female financial adviser in 2012 and 2013. She managed more than $2 billion in assets.
Apparently, Ami's affair with Roy wasn't prohibited by her employer. Lynnda knew about the relationship as well, as did most of the community. She didn't approve but wasn't planning on divorcing him; a source suggested there was more than one "dalliance," a source told Insider.
[Photo Via NY Post]