Stoltmann Law Offices is currently investigating two former employees of Mid Atlantic Capital, Timothy Dembski and Walter Grenda. They have been permanently barred from the securities industry by FINRA, for alleged misleading sales practices involving the Presitige Wealth Management Fund. According to FINRA, the fund purportedly sold individual stock positions daily when their share price rose by 3% or dropped by 1%. Clients were told these actions were based on computer algorithms, when in actuality brokers controlled all investment decisions.
Dembski and Grenda’s clients invested a total of $12 million dollars in the Presitige Wealth Management Fund. According to FINRA, in December 2012 the fund’s total valuation was $644,000. The fund was based on risky speculative investments, which resulted in massive investment losses. If you invested money with Timothy Dembski or Walter Grenda and would like to recover your investment losses, you may be able to bring a claim against Mid Atlantic Capital for not supervising these brokers properly. We bring claims against brokerage firms in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis to help retail investors recover losses. Please call us today. The call is free.
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