The State of California stripped Eric Grace of his ability to legally sell investments in California
On May 18, 2016 Eric Grace, a former registered representative and investment advisor with Grace Capital Management of Torrance, CA was barred from acting as an investment advisor or broker dealer by the California Department of Business Oversight
The State of California earlier in the year had filed an accusation against Eric Grace, after he refused to provide them information relating to his business with Grace Capital Management. The state had demanded access to Grace Capital Management’s offices for a routine examination in December, 2015 but found it closed. They then left voice messages with Grace Capital Management, and sent certified letters, but received no response.
The Commissioner then initiated proceedings to bar Grace from acting as a broker dealer or registered investment advisor and served Grace with copies of the accusations. Grace failed to respond or appear to contest the charges, and on May 18, 2016 the Commission permanently barred Grace from legally selling investments in California.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.