There are options for clients of Independence Capital Co., Inc. broker Dennis Twarogowski (CRD# 1033169) who suffered investment losses. He has been registered with Independence Capital Co., Inc. in Parma, Ohio, since 2005.
In January 2026, FINRA sanctioned him to pay a $5,000 civil and administrative penalty and fine, and suspended him for three months, after he “consented to the sanctions and to the entry of findings that he and his member firm failed to reasonably supervise firm registered representatives’ recommendations of bonds that were speculative, involved a high degree of risk, were illiquid, and were only suitable for persons with substantial financial resources and with no need for liquidity.” FINRA found that he and the firm “failed to reasonably supervise the representatives who together recommended that nine retail customers, four of whom were seniors, make a total of $443,000 of investments in the speculative bonds. Twarogowski was each representative’s direct supervisor during this period and approved each sale of the bonds after reviewing the application documents. In approving each of the sales to the nine customers, Twarogowski and the firm failed to perform a reasonable assessment of whether the recommendations were consistent with the customers’ investment profiles, particularly in light of the concentration levels.”
Dennis Twarogowski Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
January 2025. “Failure to supervise a registered representative who put customers in a non existing Real Estate program.” The customer is seeking $100,000 in damages, and the case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Independence Capital Co., Inc. may be liable for investment or other losses suffered by Dennis Twarogowski’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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