Former Huntington Investment Company advisor alleged to have participated in customers’ investment of $10 million in a hedge fund he co-founded
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William Joseph Kielczewski (CRD# 4034356) is a previously registered broker and currently registered investment advisor. From 2014 to 2017, Mr. Kielczewski was a registered representative with The Huntington Investment Company based in Toledo, Ohio.
In April 2017, Mr. Kielczewski was discharged from Huntington after the firm concluded that he misrepresented activity relating to outside business activity and engaged in private securities transactions without firm approval.
On May 21, 2019, FINRA initiated a regulatory action against Mr. Kielczewski citing three causes of action, including violations of FINRA Rules 2010 and 3280 (Disciplinary Proceeding Complaint №2017054405401).
According to the complaint, Mr. Kielczewski represented to Huntington that he was “merely a passive investor” in a hedge fund called Mariemont Capital Partners. In reality, Mr. Kielczewski was a founding member of Mariemont. Further, on his Pre-Registration Request Form, Mr. Kielczewski represented that he had no business duties at Mariemont.
In addition to making false statements on the Pre-Registration Request and other forms during his employment with Huntington, Mr. Kielczewski also engaged in private securities transactions with Mariemont and several investors who were also customers with Huntington.
Mr. Kielczewski allegedly solicited four executives from an insurance agency about investing with Mariemont’s mortgage-backed securities. In total, the four customers invested over $10 million in Mariemont, all transactions in which Mr. Kielczewski participated without giving written notice to Huntington.
The FINRA complaint requests that sanctions be imposed on Mr. Kielczewski on a finding that he committed the violations alleged.
Prior to his registration with Huntington, Mr. Kielczewski was a representative of Fifth Third Securities, also based in Toledo, Ohio. His BrokerCheck profile does not contain any disclosures other than those related to the current investigation.
Jeffrey R. Sonn is skilled securities fraud attorney. With more than three decades of experience, he is a strong advocate for investors nationwide. Please contact our law firm today at (305) 912–3000 for a free consultation.