John William Carroll of Maumee Ohio a stockbroker formerly registered with Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that (1) misrepresentations had been made to the customer regarding the terms and conditions of business development company products and (2) investments were not suitable for the customer given the customer’s risk tolerance or overall circumstances and (3) Berthel Fisher Company Financial Services failed to supervise the stockbroker’s activities which caused the customer losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03313 (Sept. 24, 2018).
FINRA Public Disclosure additionally reveals that Carroll is the subject of another customer initiated investment related arbitration claim in which the customer was awarded compensatory damages based upon Prudential Bache Securities being found liable on the customer’s claims which included that inappropriate investments were selected for the customer’s account by the stockbroker; transactions were effected in violation of securities laws; and the customer was defrauded.
Carroll was discharged by Berthel Fisher Company Financial Services on January 29, 2018 based upon allegations that he failed to comply with the policies or procedures of the securities broker dealer as it pertained to his communications about securities business.
