A former independent advisor working for Charles Schwab has been barred after selling $1 million of office equipment and in engaging in other illegal activities, according to ThinkAdvisor. At the time he was dismissed from the company, he also faced charges in Florida related to sales of Oxycodone and unlawful use of a communications device.
Jeffery Brian Grove was said to have physically removed articles from his office and sell them to private individuals. Grove worked for Schwab for over 15 years and had 250 clients. Previously, Grove had a cannabis charge and was on probation for 18 months.
A statement from Schwab says it “cooperated fully with law enforcement …. there is no evidence of any client impact as the result of Grove’s illegal activities.”