FINRA Alleges Brooklyn Brokerage Bilked Polish Community

by Wall Street Fraud on December 11, 2012

Stock fraud lawyerThe Financial Industry Regulatory Authority has charged Roman Sledziejowski, President and owner of Brooklyn, NY-based brokerage firm TWS Financial, LLC, with securities fraud involving more than $4 million. Sledziejowski allegedly converted client funds to his personal use and covered up the scheme by providing falsified account statements to his clients.

This appears to be an affinity fraud—investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The masterminds behind the frauds frequently are members of the group (or at least pretend to be) and rely on other members to spread the word about the investment opportunity.

In this case, TWS Financial catered to the Polish investment community in Brooklyn. In addition, all of Sledziejowski’s victims were natives of Poland.

According to FINRA, Sledziejowski wired funds directly from the customers' TWS brokerage accounts to a company he controlled without their knowledge or consent. In order to mask his misconduct, Sledziejowski provided customers with falsified account statements or "account snapshots," which were fictional accounts of their holdings in their TWS brokerage accounts or the values of those accounts. At this time, more than $3 million of the customers' funds have still not been located.

As this case highlights, it is imperative to carefully research every investment opportunity, no matter how you hear about it. In some circumstances, a member of your own religious, ethnic, or professional may be using his or her affiliation to get at your hard earned money.

If you have been the victim of securities fraud, we may be able to help you recover your losses. Contact us today at 215-839-3953 for a free consultation.

At Wall Street Fraud, we are dedicated to offering assistance to those who have been hurt by improper corporate or investment practices.

If you have been the victim of stock brokerage fraud, securities fraud, mutual fund fraud, stockbroker fraud, annuities fraud, or any other type of investment fraud or negligence, please contact our securities fraud attorneys today for a free case evaluation. Our talented and aggressive legal and professional staff is eager to help you recover your losses.


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