EL PASO, Texas (KTSM) — A former Morgan Stanley financial advisor in El Paso was sentenced in federal court to 12 years in prison for committing a multi-million dollar fraud scheme, according to the U.S. Attorney's Office from the Western District of Texas. Docs: Man steals over $220K, fa ces multiple fraud charges The U.S. Attorney's Office says Jesus Rodriguez de la Cruz, 46, defrauded his financial services employer, Morgan Stanley, and clients through materially false pretenses, representations, and promises from May 2018 to August 2021. Jesus Rodriguez de la Cruz, 46. Rodriguez de la Cruz orchestrated fraudulent transfers of funds from the bank accounts of Morgan Stanley and clients to other bank accounts for his own benefit, the U.S. Attorney's Office said. In one instance, Rodriguez de la Cruz created false communications and documents impersonating a client and submitted them to Morgan Stanley personnel to cause "fraudulent transfers on the client's line of credit account for personal profit," the U.S. Attorney's Office said. One of these included a form that falsely claimed the client had verbally authorized the transfer of $48,575.36 for the purchase of real estate in El Paso. Morgan Stanley initiated the wire transfer from the client's account to a separate bank account that belonged to one of Rodriguez de la Cruz's family members, according to the U.S. Attorney's Office. Rodriguez de la Cruz also purchased a Lamborghini after a fraudulent transfer of about $125,000 from a client's account that was transferred to another account. He did not report any of the embezzled funds as income on his tax returns from 2017 through 2021. In total, Morgan Stanley lost over $5 million over Rodriguez de la Cruz's schemes, the U.S. Attorney's Office said. Rodriguez de la Cruz was indicted by a federal grand jury in December 2023 and was arrested in January 2024. He then pleaded guilty in November to one count of wire fraud, one count of engaging in a monetary transaction over $10,000 using criminally derived proceeds, one count of aggravated identity theft, and one count of making and subscribing a false income tax return. ...read more read less