Felony Charges Dropped in Hit-and-Run...
...so that a Morgan Stanley wealth manager can keep job
By Evann Gastaldo,  Newser Staff
Posted Nov 8, 2010 2:40 PM CST
In this June 17, 2008 file photo, Morgan Stanley headquarters is shown in New York.   (AP Photo/Mark Lennihan, file)

(Newser) – Prosecutors in Colorado want Martin Joel Erzinger to keep his job as a financial manager to the ultra-wealthy—so they dropped felony charges against him in a hit-and-run case. Erzinger, 52, will instead face two misdemeanor charges for allegedly hitting bicyclist Dr. Steven Milo on July 3 and then fleeing the scene, the Vail Daily reports. Milo, 34, is still recovering from spinal cord injuries, brain bleeding, and other damage from the accident. Erzinger manages more than $1 billion in assets for Morgan Stanley Smith Barney.

Milo and his attorney have filed an objection to the prosecution’s decision, and Milo insists the case is “about responsibility, not money.” But the district attorney argues that “justice in this case includes restitution and the ability to pay it,” and that “felony convictions have some pretty serious job implications for someone in Mr. Erzinger's profession." Hence the dropped charges: "When you're talking about restitution, you don't want to take away his ability to pay,” he said. Click here for more on the case, and more reactions.