Anthony Diaz – Securities Fraud Investigation
The White Law Group continues to investigate potential claims involving financial advisor Anthony Diaz and the liability his employers may have for failing to properly supervise him. The firm has recently filed two claims on behalf of investors who have lost money investing with Pennsylvania broker Anthony Diaz.
According to reports, Diaz was registered at 11 broker-dealer firms in 14 years. He has also reportedly been the subject of at least three regulatory events, four employment separations and forty-three customer complaints.
FINRA arbitrators reportedly have ruled that Anthony Diaz must pay damages to 19 former clients, noting he failed to respond to arbitration. Those reported further state that the award includes compensatory damages of about $1 million, punitive damages of $2.9 million and attorneys’ fees of more than $400,000.
Diaz, 48, was also reportedly ordered to pay more than $4 million in damages ahead of his federal trial on criminal fraud charges.
Once regarded as one of the nation’s top brokers, FINRA claims that Diaz allegedly earned millions of dollars by pushing high-fee, high-risk alternative investments, such as real estate investment trusts (REITs) and equipment leasing partnerships. These types of investments typically offer high broker commissions.
According to the United States Attorney’s Office for the Middle District of Pennsylvania, Diaz was charged in a superseding indictment with additional charges of mail and wire fraud.
Diaz was originally indicted on May 12, 2016, and charged with six counts of wire fraud by using false and misleading statements and misrepresentations to induce his clients to purchase high risk and/or otherwise unsuitable investment products.
According to his FINRA BrokerCheck report, Anthony Diaz has 55 (fifty-five) disclosure events, including 43 customer complaints. He was last registered with IBN Financial Services in Scotrun, PA from 09/27/2012 – 04/23/2015.
Diaz was reportedly barred from the securities industry by the Pennsylvania Bureau of Securities in June 2015, as well as FINRA, and his registration in the State of New Jersey was purportedly revoked in April 2017.
Free Consultation with a Securities Attorney
If you have questions or concerns about investments you made with Anthony Diaz, the securities attorneys of The White Law Group may be able to help you. To speak with a securities attorney, please call 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.