Calvin Lee Gray

FINRA has charged Calvin Lee Gray for refusing to provide documents and information in an investigation into potential fraud and identity theft related to customer accounts at Wells Fargo Clearing Services (CRD No. 19616). Gray, who worked in an unregistered capacity at Wells Fargo from June 2022 to March 2023, was indicted in federal court for conspiracy to commit bank fraud, fraud in connection with identification documents, aggravated identity theft, and fraud in connection with access devices.

Following Gray’s indictment, FINRA launched an investigation to determine whether he engaged in fraudulent activity involving brokerage customers. Regulators issued multiple requests under FINRA Rule 8210 for records, including correspondence, phone logs, and bank statements. Despite repeated notices, Gray failed to respond, violating FINRA Rules 8210 and 2010.

Gray, though never a registered broker, remains subject to FINRA’s jurisdiction due to his employment at Wells Fargo Clearing Services. His refusal to cooperate with the investigation has impeded FINRA’s efforts to assess the extent of potential investor harm.

If you believe you may have been impacted by misconduct related to Gray’s actions at Wells Fargo Clearing Services, you may have legal options. Contact ChapmanAlbin today for a free consultation.