In May 2019 FINRA filed a complaint alleging that Kielczewski falsely and repeatedly represented to his member firm that he was merely a passive investor in Mariemont Capital Partners when, in fact, he was actively involved with the fund, promoting it to potential investors. Instead, FINRA found that Kielczewski helped to facilitate customer investments in the fund by assisting in the completion of wire transfers in order to fund their investments, reviewed and made revisions to the fund’s pitch book and quarterly portfolio reports, and occasionally suggested to a customer certain securities to purchase for the fund. When FINRA reviewed Kielczewski’s tax returns they showed that Kielczewski identified himself as a general partner of the investment manager of the fund and he declared ordinary business income losses and non-passive ordinary income. FINRA found that Kielczewski participated in multiple private securities transactions through which four firm customers invested over $10 million in the hedge fund without providing prior written notice to his firm.
Mariemont Capital Partners SEC private placement filing in 2014 states that the total offering amount was $250,000,000 of which $53,400,000 had been already sold. According to the fund’s website Kevin Taylor is the founder and Chief Investment Officer of Mariemont Capital and has 17 years of fixed income trading experience to identify value within the non-agency residential mortgage backed securities market.
Mariemont Capital Partners purports to invest by conducting valuation analysis of the underlying loans supporting residential mortgage backed securities. The Fund claims that the fund manager has developed successful techniques necessary to identify the value of the RMBS. On the website Bill Kielczewski is listed as the Chief Marketing and Sales Officer of Mariemont Capital.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.