Tag Archives: Fiduciary Breach

Losses with Rhett Bedwell

If you suffered losses with Rhett Bedwell you may be entitled to to compensation.  Please call 1-866-817-0201 for a free and confidential consultation.

LPL

Rhett Bedwell is alleged to have recommended investments into Ponzi investments.

Mr. Bedwell was a broker with LPL until November 2020.  He was terminated for transferring the money from an elderly client’s IRA into investments that were not properly vetted.  These investments were Ponzi-type scams.  Proper vetting, or due diligence, would have recognized the high level of risk of the investment, if not disclosed the Ponzi nature of the investment itself.

Small World Capital and the now defunct, Graysail Capital, and IRA custodian.   Small World has specifically been identified by regulators as a Ponzi-type operation.  

LPL is currently facing an arbitration lawsuit from an investor concerning such actions.  Shortly after the termination of Bedwell by LPL, FINRA, the Financial Industry Regulatory Authority, opened an investigation into Bedwell.  Bedwell refused to cooperated and was expelled from the securities industry.

Bill Kielczewski Fraud Victims

If you invested in Mariemont Capital through Bill Kielczewski or otherwise suffered losses due to his recommendations, please call 1-866-817-0201.

Securities firms have a duty to monitor and supervise outside business activity of their brokers.  When brokers sell investments that are not approved by their brokerage, the brokerage is responsible for the resulting losses.

While associated with Huntington Investment Company (“Huntington”) Bill Kielczewski falsely and repeatedly represented to the Firm, and upon information and belief his investors, that he was merely a passive investor in a hedge fund called Mariemont Capital Partners L.P.

in fact, he was actively involved with Mariemont, promoting it to potential investors. Kielczewski participated in multiple private securities transactions through which four Firm customers invested over $10 million in Mariemont, without providing prior written notice to Huntington. Kielczewski willfully caused the Firm to make five false regulatory filings in which he described himself as a “passive investor” in Mariemont when he was not.

During the hiring process in late December 2013, Kielczewski submitted to Huntington a Pre-Registration Request Form, disclosing that he was engaged in an outside business activity with an entity called “Mariemont Capital.” In making his disclosure, Kielczewski did not provide the full name of the Mariemont entity and did not distinguish between the Fund and the investment manager.

Huntington terminated Kielczewski in April 2017.  The regulator FINRA started an investigation in April 2019 and filed a regulatory complaint in May 2019.