David Scott Mirolli, Broker with Kalos Capital, Named in Multiple Customer Disputes Alleging Recommendation of Unsuitable Investments

INVESTORS: Kalos Capital broker David Scott Mirolli was named in multiple customer disputes alleging unsuitable investment recommendations related to GPB Capital Holdings.

David Scott Mirolli (CRD#: 5116067) is registered as a broker with Kalos Capital, where he’s been employed since 2015. Previously, Mirolli was registered as a broker with Triad Advisors from 2012 until 2015.

Mirolli has four disclosures on his BrokerCheck report.

December 2021 Customer Dispute

Status: Settled

Allegations: Claimant alleges that Triad, through the Representative, recommended an investment that was not in keeping with the client’s objectives, and that the review of the product and disclosures to the client were not adequate.

Damage Amount Requested: $70,000.00

Settlement Amount: $43,703.97

October 2020 Customer Dispute

Status: Settled

Allegations: Claiming failure to conduct reasonable due diligence and examine the private placement company’s representations and disclosures prior to recommending the investments to Claimants.

Damage Amount Requested: $1,200,000.00

Settlement Amount: $290,617.00

Broker Comment: Client was solicited by a claimants’ law firm due to a currently poor performing investment to bring action against me and Kalos Capital. The claimants understood the risks, and the investment recommendations were suitable for their stated goals, objectives, and risk profiles. Kalos and I vehemently deny any and all allegations.

February 2020 Customer Dispute

Status: Settled

Allegations: Failed to conduct reasonable due diligence and recommended an investment strategy comprised of speculative and unsuitable securities pursuant to material misrepresentations and omissions offered by GPB Capital Holdings

Damage Amount Requested: $155,000.00

Settlement Amount: $55,000.00

Broker Comment: Client was solicited by a claimants’ law firm due to a currently poor performing investment to bring action against me and Kalos Capital. The claimants understood the risks, and the investment recommendations were suitable for their stated goals, objectives, and risk profiles. Kalos Capital, Inc. determined as a business judgment that it was in the firm’s best interests to resolve the dispute rather than incur the time, disruption, and legal expenses associated with a protracted arbitration proceeding. Kalos did not ask me to provide any monies to settle the claim.

If you have any information about David Scott Mirolli that you would like to share or discuss, please call our firm for a confidential consultation. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.