Timothy S. Demski and Walter F. Grenda — False and Misleading Statements to Clients

New Orleans stockbroker fraud attorney

New Orleans stockbroker fraud attorney

Timothy S. Demski and Walter F. Grenda Allegedly Made False and Misleading Statements to Reliance Financial Advisers Clients, Purportedly Recommending Investment in a Risky Hedge Fund that Suffered Substantial Losses

Timothy S. Demski and Walter F. Grenda allegedly made false and misleading statements to Reliance Financial Advisers Clients, according to a recent SEC Complaint currently under review by attorneys Joe Peiffer and Alan Rosca.

Timothy S. Demski and Walter F. Grenda allegedly recommended that Reliance Financial Advisers Clients invest cash with a hedge fund manager, Scott Stephan, who reportedly had little hedge fund investing experience, the SEC reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Timothy S. Demski and Walter F. Grenda and their alleged false and misleading statements to clients.

Timothy S. Demski and Walter F. Grenda Allegedly Induced Investors, Many Close to Retirement Age, to Sink Approximately $12 million in the Prestige Wealth Management Fund; Demski Barred

Timothy S. Demski and Walter F. Grenda allegedly induced clients, many retired or near retiring, to invest approximately $12 million in the Prestige Wealth Management Fund, according to a recent SEC Complaint presently being reviewed by attorneys Joe Peiffer and Alan Rosca.

Grenda, in October 2012, allegedly withdrew his client funds from the fund before it collapsed a few months later, although clients of Demski purportedly lost the most of their investment, almost $4 million, the SEC reports.

Dembski allegedly submitted an offer of settlement and was barred for fraudulently inducing two retail customers to invest in the Prestige Wealth Management Fund, LP, the SEC reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of false and misleading statements, and are currently investigating Timothy S. Demski and Walter F. Grenda’s alleged investment scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Timothy S. Demski and Walter F. Grenda’s alleged investment scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1163 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.