Carl John Grilli of Monrovia California a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related civil action brought in the Superior Court of California in which the customer sought $89,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) information about investments had been concealed or misrepresented by Grilli (3) transactions executed by the stockbroker failed to be suitable and (4) the customer was placed into non-traded real estate investment trust products and limited partnership interests that were not suitable given the customer’s objectives for investing and age. Civil Action No. 19STCV18308 (June 3, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Grilli is referenced in two more customer initiated investment related disputes pertaining to accusations of his misconduct during the period in which he was associated with BancWest Financial Services. Specifically, a customer filed an investment related arbitration claim concerning Grilli’s activities where the customer requested $182,000.00 in damages supported by allegations of an annuity transaction being effected without the customer’s knowledge or consent.
Also, a customer filed an investment related complaint involving Grilli’s conduct in which the customer sought $160,000.00 in damages founded on accusations that Grilli sold the customer a John Hancock life insurance policy without apprising the customer about the terms, conditions or risks of the insurance product.
Grilli’s employment with Investors Capital Corp. has been terminated as of October 3, 2016. Between October 3, 2016 and December 31, 2017, he was registered with Cetera Advisors LLC. Grilli has been employed by LPL Financial LLC since April 12, 2018.
