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Stephen Grivas Barred from Securities Industry

shutterstock_120747304According to records provided by the Financial Industry Regulatory Authority (FINRA), former New York-based Blackbook broker Stephen Grivas has been permanently barred from acting as a broker or associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Grivas (CRD# 1829703).

Stephen Grivas has spent eighteen years in the securities industry and was most recently registered with Blackbook Capital in Northport, New York (2014). Previous registrations include Obsidian Financial Group in Woodbury, New York (2008-2013); Westrock Advisors in Woodbury, New York (2005-2008); JP Turner & Company in Atlanta, Georgia (2000-2005); Emmett A. Larkin & Company in San Francisco, California (2000); Bluestone Capital Partners in New York, New York (1999-2000); and ten other broker-dealer firms between 1994 and 1999. He is currently not registered with any state or firm.

According to his BrokerCheck report, Stephen Grivas is the subject of five regulatory sanctions, one regulatory sanction on appeal, five customer complaints, and one judgment or lien.

In 2015 FINRA sanctioned Stephen Grivas following allegations he failed to comply with an arbitration award or settlement agreement, or to comply with a FINRA request. He was consequently suspended from the securities industry.

In 2013 a customer alleged Stephen Grivas, while employed at Obsidian Financial Group, breached his fiduciary duty, breached contract, made an unsuitable investment recommendation, and violated federal securities law. The complaint resulted in an award to the customer of more than $166,300.

In 2013 FINRA sanctioned Stephen Grivas following allegations he failed to comply with an arbitration award or settlement agreement, or to comply with a FINRA request. He was consequently suspended from the securities industry.

In 2002 a customer alleged Stephen Grivas, while employed at JP Turner & Company, misrepresented material facts related to an investment. The complaint settled in 2004 for $6,000.

In 2000 a customer alleged Stephen Grivas breached his fiduciary duty, made an unauthorized transaction, and churned the account. The complaint resulted in an award to the customer of $25,000.

In 2002 a customer alleged Stephen Grivas, while employed at Bluestone Capital Partners, made an unauthorized transaction. The complaint settled for $15,000.

In 1998 the Indiana Securities Division sanctioned Stephen Grivas following unspecified allegations. He was issued a restrictive registration agreement.

In 1997 the Iowa Securities Bureau sanctioned Stephen Grivas following allegations he “engaged in an unethical practice” by assuring a customer that the purchase price of a stock would be below a certain price “when he knew or should have known” it would be at a higher price. Mr. Grivas was barred from acting as a securities agent in Iowa for one year and issued a a fine of $2,000.

If you have lost money investing with Stephen Grivas, you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.