Ex-Schwab Broker Barred for $1M Office Supply Heist

19th November 2014

FINRA has permanently barred a former Charles Schwab & Co. Inc. broker after he allegedly stole around $1 million in office equipment from his former firm. According to a letter of acceptance posted to FINRA’s disciplinary database, Jeffrey Grove, a financial consultant in the Melbourne, FL office, used the firm's order system to purchase supplies and equipment, and then sold the items to “different individuals.” Mr. Grove signed an agreement to FINRA’s sanctions without admitting or denying the findings.

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