On Thursday, Oklahoma City police arrested 90-year-old Morgan Stanley broker, Leonard Bernstein, after he allegedly shot his business partner, Chris Bayouth, “several times,” according to a local news report. Bayouth, 61, was rushed to the hospital in critical condition and is expected to survive.
Bernstein, who was arrested at a traffic stop following the incident, was charged with shooting with intent to kill and is currently out of jail on a $50,000 bond.
According to the local news, witnesses told investigators that Bernstein and Bayouth had worked together for nine months. Bernstein handed his accounts over to Bayouth, due to his declining health, however, a specific motive for the shooting remains unclear.
“A Morgan Stanley employee told police on Thursday that Bernstein unexpectedly showed up and walked straight to the victim’s office. The employee reported hearing multiple gunshots until the handgun slide locked back. She could see Bernstein pointing the gun at the victim. The witness said she ran outside to call police,” a local news channel reported.
Morgan Stanley has since terminated Bernstein and received a temporary restraining order to protect the employees and customers of the Oklahoma City office.
According to his BrokerCheck profile, Bernstein joined Morgan Stanley less than a year ago, and previously spent nine years at Wells Fargo. During his 27 years in the industry, he has no customer complaints, regulatory actions, or terminations prior to this event.
Bayouth, who has 33 years of industry experience, joined Morgan Stanley in 1997.