CHICAGO — Grigsby & Associates Inc. owner Calvin Grigsby said he will vigorously fight accusations leveled by the Illinois secretary of state that he failed to properly supervise a former banker in the firm’s Chicago office who advised the Illinois Student Assistance Commission to invest in a bank that later failed.

Secretary of State Jesse White’s office has not filed formal charges in a public document alleging securities violations, but it outlined its evidence that could eventually lead to charges in a document Grigsby said he received this week.

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