Financial advisor in the middle of controversy speaks out - KSLA News 12 Shreveport, Louisiana News Weather & Sports

Financial advisor in the middle of controversy speaks out

The Shreveport Financial Advisor Calvin Grigsby is speaking out after the city council voted down a resolution that would have allowed the city to continue working with him. 

Grigsby is accused of owing the city $53,000 in overcharged work, but Grigsby says that is not the case. "It's not like they found a document saying I didn't do any work."

Grigsby says the reported $5,000 in overcharges is actually money the city owes him in "billable hours" for the time he spent gaining voter approval for the bond issue. He says the money in dispute has since been placed in an escrow account until the matter is solved. 

"The city is not use to a financial advisor doing all this work to get voter approval but that takes a lot of work," says Grigsby. 

Outside of the financial quarrel in Shreveport, there are some past blemishes on the company's record.According to the financial regulatory company FINRA, years ago Grigsby was charged with public corruption, conspiracy, and embezzlement. The charges were dismissed in a Florida Court and Grigsby says it is because the company did not break the law. 

"Regardless of what happened in Florida, I have all my licenses so obviously the people who regulate, and the people who do this, don't think I did anything wrong," says Grigsby. 

He points to this remark in the judge's notes about the case, "It is considered axiomatic under Florida law that a person cannot be convicted of theft of his own property."

Grigsby maintains that despite lengthy investigations he has done reputable work, and he says right now Shreveport's City Council is working hard to prove that their own investigation on him was not in vain."They want to keep this going for as long as possible, than to admit they were wrong," Grigsby says. 

Grigsby is currently also dealing with another issue in Jefferson County, Alabama. He is accused of a shakedown there, but according to Grigsby, that is a "flat out lie." He says he has operated legally when requesting the money he says he is owed. 

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