A fired Morgan Stanley financial advisor who downloaded client data to a home server pleaded guilty to accessing the bank's computer network without permission.
Galen Marsh, 31, transferred confidential information on 730,000 customer accounts to a private server in his Hoboken, New Jersey, home from June 2011 to December 2014, according to prosecutors. Account information about 900 clients was found on an external website, Morgan Stanley said in January.
"I was using it to be better at my job," Marsh told U.S. District Judge Kevin Duffy in Manhattan Monday. "But I wasn't trying to sell it or make money with it or anything like that."
Marsh, who is free on a $200,000 bond, faces as long as five years in prison when he's sentenced Dec. 7. He said in court that he and a co-worker were being recruited by two other broker-dealer firms.
