Eric Grant Demarcus of Sunnyvale California a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 17, 2015 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that unit investment trust transactions executed in the customer’s account were not suitable for the customer given the customer’s risk tolerance and conservative investment objectives.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Demarcus has been identified in two additional customer initiated investment related disputes containing accusations of his misconduct. In particular, on February 19, 2009, a customer filed an investment related complaint involving Demarcus’ activities in which the customer requested $150,000.00 in damages founded on allegations that while Demarcus was associated with Banc of America Investment Services, Inc., unauthorized preferred stock trades were placed in the customer’s account.
Additionally, on April 5, 2013, a customer initiated investment related complaint concerning Demarcus’ conduct was resolved for $19,891.80 in damages supported by accusations that Demarcus made unsuitable investment recommendations to the customer, committed elder abuse, and made misrepresentations to the customer in regard to a mutual fund held in the customer’s account.
Demarcus’ registration with Wells Fargo Advisors, LLC has been terminated as of August 18, 2016. Since June 2, 2017, he has been employed by Citigroup Global Markets Inc.
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