Walter Francis Grenda, Jr.—Inducing Customers to Invest in Prestige Wealth Management Fund, LP, Borrowing Money from Customers without Firm Approval

investment fraud attorneysWalter Francis Grenda, Jr. Allegedly Induced Customers to Invest in the Prestige Wealth Management Fund, LP; He also Borrowed Money from Firm Customers without Approval from His Member Firm, Mid Atlantic Capital Corporation

Walter Francis Grenda, Jr. allegedly induced customers to invest in the Prestige Wealth Management Fund, LP and he also borrowed money from Mid Atlantic Capital Corporation (MACC) customers without firm approval, according to a recent FINRA Complaint currently under review by attorneys Joe Peiffer and Alan Rosca.

Walter Francis Grenda, Jr., between March 1, 2011 and March 1, 2012, allegedly induced retail customers to invest in the Prestige Wealth Management Fund, LP through misrepresentations and omissions, said FINRA Complaint notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Walter Francis Grenda, Jr. who allegedly led investors to believe that Prestige Wealth Management Fund, LP was a “growth” fund that would be based on a computer algorithm that included risk protections and stop-losses to limit losses in the Fund, the FINRA Complaint reports. In fact, FINRA notes, Prestige Wealth Management Fund, LP was allegedly a speculative investment.

Walter Francis Grenda, Jr. Barred by FINRA for Allegedly Luring Investors into Wealth Management Fund, LP Whose Fund’s Chief Investment Officer had Complete Control over the Investments Rather than the Purported Algorithm

Walter Francis Grenda, Jr. allegedly has been barred by FINRA for allegedly luring investors into Prestige Wealth Management Fund, LP with talk of a fancy computerized algorithm, but the funds were purportedly actually controlled by an individual known as SMS, according to a said FINRA Complaint presently being reviewed by attorneys Joe Peiffer and Alan Rosca.

In addition, Walter Francis Grenda, Jr. allegedly knew that the Firm was making material misrepresentations about SMS’s professional experience, and that SMS had co-managed a portfolio of over $500 million” and was responsible for “portfolio management and analysis” as ‘Vice President of Investments for a New York based investment company,” the FINRA Complaint reports.

Finally, Prestige Wealth Management Fund, LP, in December 2012, the last full month that the Fund traded, Prestige lost over 80% of its value. As a result of the aforementioned behavior, Walter Francis Grenda, Jr. willfully violated NASD and FINRA Rules, and thus has been barred by FINRA.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of material misrepresentations, and are currently investigating Walter Francis Grenda, Jr.’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 investing Prestige Wealth Management Fund, LP and Walter Francis Grenda, Jr.’s alleged 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 (1123 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.