Business

Morgan Stanley fires broker arrested for stock fraud

Morgan Stanley has fired broker Vladimir Eydelman, the 42-year-old New Jersey man arrested Wednesday by FBI agents on securities fraud charges.

The investment bank had placed the broker on leave immediately after his arrest and said they were cooperating with authorities.

By Friday, after an “assessment of the situation,” they’d learned enough to let him go. Eydelman pleaded not guilty to the charges.

The Colts Neck resident, according to federal prosecutors, was the big winner in an alleged $5.6 million insider-trading scam, which also involved a mortgage broker middleman and a law firm clerk who learned of upcoming mergers at Simpson Thatcher.

The former Morgan Stanley broker bought a 2011 Maserati GranTurismo for $117,000, expensive jewelry and paid off the mortgage on a new house.