Roman Jerzy Sledziejowski, a former broker with Brooklyn, New York based TWS Financial, LLC, submitted an Offer of Settlement in which he consented to the entry of the Financial Industry Regulatory Authority's (FINRA) findings that as part of a fraudulent scheme, he converted and/or misused funds of his firm's customers and provided false account statements to some of those customers in an attempt to hide the misconduct. FINRA said that during the course of Mr. Sledziejowski's fraudulent scheme, a total of approximately $4.8 million was wired to a company that Mr. Sledziejowski owned from the bank and brokerage accounts of firm customers. FINRA also said that Mr. Sledziejowski provided some of the customers with account statements and snapshots that displayed account balances consistent with what the customers believed to be in their firm brokerage account. Based on the actual account statements provided by the firm's clearing firms, the statements Mr. Sledziejowski provided were fabrications and the values and holdings in the customers' firm brokerage accounts differed significantly from what Mr. Sledziejowski led them to believe were in their brokerage accounts. As of April 2013, Mr. Sledziejowski had only returned approximately $1.5 million of those funds to the customers. FINRA further included that Mr. Sledziejowski failed to cooperate with FINRA's investigation and failed to appear for an on-the-record interview. Mr. Sledziejowski, of Ossining, New York, was barred from association with any FINRA member in any capacity.
Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to Mr. Sledziejowski's fraudulent scheme can bring forth claims to recover losses against TWS Financial, which should have prevented Mr. Sledziejowski from committing the described illegal acts. Have you suffered losses in your TWS Financial account due to Roman Jerzy Sledziejowski's fraudulent scheme? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation.
The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.
No comments:
Post a Comment