New York Securities Lawyer Blog
On November 28, 2012, the Financial Industry Regulatory Authority Inc. (“FINRA”) filed a Disciplinary Proceeding Complaint against Roman Sledziejowski, the President and Owner of TWS Financial LLS (“TWS”). (Disciplinary Proceeding 2012033559602). The Complaint states that Sledziejowski defrauded three (3) of his Polish customers by using approximately $4.8 million of customer funds for his own use. Additionally, according to the Complaint, FINRA determined that Sledziejowski would instruct TWS customers to transfer their funds to him in order to invest in a Polish vodka company or deposit in a Polish bank, but instead, Sledziejowski would use the funds for his own benefit. In some cases, customers asserted that the wire transfers Sledziejowski made were unauthorized. After misappropriating the customer funds, Sledziejowski would then generate false account statements and/or account snapshots for clients, which made the transactions appear legitimate. According to the FINRA Complaint, this fraud transpired from June 2009 through August 2012. To date, there is still approximately $3 million in customer funds which are unaccounted for by regulators. Sledziejowski is now refusing to cooperate with FINRA and refuses to testify regarding the fraud. TWS withdrew its broker-dealer registration with FINRA on November 9, 2012. As a result, FINRA is requesting sanctions against Sledziejowski including to fully disgorge any and all “ill-gotten gains” to TWS’s defrauded customers and/or make a full and complete restitution. Lax & Neville LLP can effectively assist investors, on both a regional and national level, that may have suffered losses as a result of their broker dealer’s sales practice abuses. Moreover, Lax & Neville LLP has effectively recovered losses for investors suffered as a result of broker-dealer’s fraudulent misappropriation of customer funds and has victoriously prosecuted claims against defunct broker-dealers who are no longer in business and no longer registered with FINRA. Please contact our team of securities fraud attorneys for a consultation at (212) 696-1999.