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Timothy Dembski Has Been Permanently Barred From The Securities Industry

Timothy Dembski Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on September 6, 2016 indicate that former New York-based Mid Atlantic Capital adviser Timothy Dembski has been permanently barred from acting as a broker. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Dembski (CRD# 2575882).

Timothy Dembski has spent seventeen years in the securities industry and was most recently registered with Mid Atlantic Capital in Buffalo, New York (2011-2013). Previous registrations include Wall Street Financial Group in Cheektowaga, New York (2006-2011) and Securities America in Cheektowaga, New York (1995-2006). He is currently not registered with any state or firm.

According to his BrokerCheck report, Timothy Dembski is the subject of one regulatory sanction, one pending regulatory complaint, and three customer complaints.

In 2016 FINRA sanctioned Timothy Dembski following allegations he “fraudulently induced retail customers to invest in a hedge fund.” According to FINRA’s complaint, Mr. Dembski “knowingly or recklessly made untrue statements of material fact or omitted to state a fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.” He was issued a permanent bar from the securities industry.

In March 2015 a customer alleged Timothy Dembski, while employed at Reliance Financial Advisors/Reliance Financial Group, engaged in misconduct related to an investment in a Prestige Wealth Management Fund. The complaint settled in July 2016 for $62,500.

In 2014 the Securities and Exchange Commission named Timothy Dembski respondent in a complaint alleging he sold investments in a “risky hedge fund” and “knowingly or recklessly disregarded” the fund’s “highly speculative, risky” nature. The action remains pending.

In 2014 a customer alleged Timothy Dembski, while employed at Reliance Financial Advisors/Reliance Financial Group, engaged in misconduct related to an investment in a Prestige Wealth Management Fund. The complaint settled in January 2016 for $110,000.

In 2014 a customer alleged Timothy Dembski, while employed at Reliance Financial Advisors/Reliance Financial Group, failed to conduct due diligence, acted negligently, made unsuitable recommendations, breached his fiduciary duty, failed to disclose material facts, committed fraud, breached contract, breached implied contract, and violated New York Business Law in connection to an investment in a Prestige Wealth Management Fund. The complaint reached in unspecified resolution in June 2016.

If you have lost money investing with Timothy Dembski, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.