John William Carroll of Maumee Ohio a stockbroker formerly employed by Berthel Fisher Company Financial Services has been identified in a customer initiated investment related written complaint on May 13, 2020 where the customer sought more than $5,000.00 in damages founded on accusations that the customer had been placed into illiquid alternative investments including oil and gas securities as well as direct participation program interests or limited partnership interests while Carroll was employed by Berthel Fisher Company.
Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that Carroll has been identified in three additional customer initiated investment related disputes pertaining to allegations of his misconduct while employed by Prudential Bache Securities Incorporated and Berthel Fisher Company. Carroll is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $13,298.57 in damages based on Carroll and Prudential-Bache being found liable on the customer’s claims of misrepresentations and poor investment recommendations being made in regard to a managed securities account at Prudential.
On December 18, 2017, another customer filed an investment related complaint in reference to Carroll’s conduct where the customer sought more than $5,000.00 in estimated damages based upon accusations that the customer was advised by Carroll in an inappropriate manner during the time that he was associated with Berthel Fisher resulting in high commissions and financial distress for the customer. According to the complaint, as much as 90 percent of the customer’s account was saturated in one security which poorly performed. The complaint also alleges that the stockbroker’s activities had not been properly supervised by Berthel Fisher Company resulting in bad stock transactions.
On September 24, 2018, another customer filed an investment related arbitration claim involving Carroll’s conduct in which the customer requested more than $5,000.00 in damages based upon allegations that between 2011 and 2015, the customer had been sold investments that were misrepresented by the stockbroker. The claim also alleges that the Berthel Fisher customer had been sold a business development company investment which was not suitable for the customer and which resulted in losses. Berthel Fisher allegedly failed to supervise Carroll’s business development company sales.
Carroll was discharged by Berthel Fisher Company on January 29, 2018 based upon allegations that he neglected to conduct his business activities in compliance with Berthel Fisher Company’s policy.