It was later learned Morgan Stanley was responsible, motivated to protect the IQ® franchise Mr. Young had created. As perhaps prophetic justice, those principally responsible for these malicious actions (John Westerfield and Anthony ["Tony"] Tufariello) were later fired for having caused over $10 billion in residential sub-prime mortgage losses, which nearly ended Morgan Stanley as a going concern.
The third person involved in this scheme (Warren Friend) was eventually fired, and shortly upon arriving at Deutsche Bank, he was fired and the entire real estate advisory business he was hired to run was shut down, no doubt due to the realization that Mr. Friend's entire career was predicated on fraud.
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