On February 3, 2016, FINRA filed an order accepting offer of settlement. Walter Francis Grenda, Jr. has been barred from associating with any FINRA member in any capacity.
FINRA recently accepted an offer of settlement in the case of former broker Walter Francis Grenda, Jr. (CRD# 722911). In September 2015, we reportedthat we were investigating allegations against Grenda after the Securities and Exchange Commission (SEC) instituted cease-and-desist proceedings against him and the company he jointly owned.
According to the SEC, Grenda, while registered with Mid Atlantic Capital Corporation (MACC), allegedly made false and misleading statements to his clients in recommending and selling investments in the risky hedge fund Prestige Wealth Management Fund (Prestige). The SEC also accused Grenda of selling to clients who were retired, close to retirement, and had little-to-no investment knowledge.
Walter Grenda Timeline: Important Dates
In light of FINRA’s acceptance of the offer of settlement, Grenda has officially been barred from association with any FINRA member in any capacity.
If you or someone you know invested with Walter Francis Grenda, Jr. and lost money, we invite you to contact our securities fraud attorneys. Meyer Wilson is a firm dedicated to helping investors recover their losses caused by misconduct. Submit a free case evaluation online, or call us at (800) 738-1960.