Anthony Diaz – Pennsylvania Broker – Securities Fraud Investigation

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.

 

 

Investigating Potential Claims – UDF Income Fund V

United Development Funding Income Fund V – UDF Income Fund V

The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended UDF Income Fund V to investors.

United Development Funding Income Fund V (a/k/a UDF Income Fund V) is a non-traded REIT sponsored by United Development Funding in Grapevine, Texas. UDF Income Fund V is a real estate investment that invests in secured loans and residential real estate, according to its website.

In February 2016, the FBI raided United Development Funding’s offices in Grapevine, Texas investigating allegations of a possible Ponzi scheme.

On May 15, 2018, United Development Funding Income Fund V announced that they will be unable to file their next 10-Q by the deadline required by the SEC. The company has not filed a quarterly report since 2015.

The White Law Group has received numerous calls from investors who have suffered losses investing in UDF funds. The firm continues to investigate potential claims in all of the UDF offerings such as UDF Income Fund V.

Unfortunately for investors, some brokers will represent Real Estate Investment Trusts REITs and limited partnerships  as “safe” investments.

In general, limited partnerships and REITs lack liquidity and are inherently risky. These types of products are sophisticated complex investments that are better suited for institutional investors or investors who can afford total loss of their capital investment.

If a broker-dealer makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.

Free Consultation

If you have suffered losses investing in UDF Income Fund V or another UDF offering, please contact The White Law Group at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit www.WhiteSecuritiesLaw.com.

 

Puerto Rico COFINA Bonds – Securities Investigation

Investor Alert – Puerto Rico COFINA Bonds

The White Law Group continues to investigate the liability that broker-dealers may have for improperly recommending the Puerto Rico COFINA bonds to investors. The firm has received numerous calls from investors who have suffered significant investment losses in Puerto Rico COFINA Bonds.

Puerto Rico has been struggling with compounding debt and economic decline leading to the largest municipal bankruptcy filing in history in May 2017. As a result, the value of Puerto Rico’s municipal tax-free bonds has dropped drastically. Both U.S. and Puerto Rican investors have suffered bond losses totaling hundreds of thousands of dollars.

Puerto Rico COFINA Bonds Recovery Options

The White Law Group continues to investigate the liability that brokerage firms may have for improperly selling Puerto Rico COFINA Bonds to investors.

Broker dealers are required to perform adequate due diligence on all investment recommendations to ensure that each investment recommendation that is made is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.

Fortunately, the Financial Industry Regulatory Authority (FINRA) does provide for an arbitration forum for investors to resolve such disputes and if a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim.

FINRA is an independent, non-governmental regulator for all securities firms doing business with the public in the United States.

If you suffered losses investing in Puerto Rico COFINA Bonds, the attorneys at The White Law Group may be able to help you recover your losses. It is possible to file a FINRA Arbitration claim against the brokerage firm that sold you the investment.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors throughout the country in claims against their brokerage firm.

For a free consultation with one of the firm’s securities attorneys, please call (888) 637-5510.

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.

 

Investor Alert – Future Income Payments (FIP LLC)

Future Income Payments – Investigating Potential Claims

The White Law Group continues to investigate potential claims against the sales agents that sold Future Income Payments LLC (FIP LLC) to investors.

Have you suffered losses investing in Future Income Payments? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses.

According to the website, FIP, LLC is America’s largest pension cash flow originator. The company claims to be “the industry leader and an innovator in buying and selling secondary market pension cash flows, often referred to as Structured Cash Flows.”

According to the LA Times in March 2017, Future Income Payments, was based in California until state officials issued a cease-and-desist order, for issuing loans without a license.

It has recently come to light that numerous consumer lending regulators including those in New York, Massachusetts, Iowa, Washington, North Carolina, Colorado, Pennsylvania, and Minnesota are reportedly in agreement that FIP’s pension sales are loans disguised as “sales agreements”.

The state of New York reportedly forced FIP to shut their doors for fraudulent and illegal practices, according to Forbes.com. New York reportedly ordered FIP to cease operations and pay back any interest charged, plus a $500,000 penalty for operating illegally in the state and charging customers up to 130% interest.

In 2015, Washington State also entered into a cease-and-desist order against the company.

Los Angeles City Attorney Mike Feuer reportedly filed his own lawsuit against Future Income Payments in February 2017. He alleges the company “charged interest rates as high as 96%, far above California’s 10% usury limit, and threatened borrowers, falsely, that defaulting on the loans could subject them to criminal liability.”

Future Income Payments opened new operations in Nevada, according to Nevada state records, just a couple of months after California officials shut them down.

Structured Cash Flows (Pension Viaticals) often target senior citizens with false promises of a safe investment. Despite the numerous lawsuits in state and federal courts, the company’s website is still up and running.

If you are worried about investment losses in Future Income Payments, please contact the securities attorneys at The White Law Group at (888)637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.WhiteSecurtiesLaw.com.

 

LJM Preservation & Growth Fund – LJM Partners – Investigation

Investigating Potential Claims – LJM Preservation and Growth Fund

The White Law Group continues to investigate potential claims involving broker dealers who may have unsuitably recommended LJM Preservation and Growth Fund to investors.

The LJM Preservation and Growth Fund is a liquid alternative mutual fund. Liquid alternatives are alternative investment strategies that are available through alternative investment vehicles such as mutual funds, ETFs, and closed-end funds that provide daily liquidity.

According to reports, LJM Capital Preservation & Growth Fund lost $600 million dollars in two days.

In New York federal court last month, Wells Fargo Securities LLC filed suit against LJM Investment Fund LP, seeking to recover more than $16 million the bank says it spent to cover the commodity pool’s losses in February’s stock market dive.

Numerous investor lawsuits have reportedly been filed alleging the following: LJM Preservation and Growth Fund Classes I, A and C failed to adequately focus on the preservation of capital, particularly in down markets as stated in the Registration Statements and Prospectuses; investors were exposed to unacceptably high risks of significant losses; as a result, the Funds’ financial statements were materially false and misleading at all relevant times.

Brokers are required to perform adequate due diligence on any investment they recommend.
They must ensure that all recommendations are suitable for the investor and are in line with the client’s risk tolerance, age, net worth, and investment experience.

If a brokerage firm makes unsuitable investment recommendations or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.

You may be able to recover investment losses through FINRA Arbitration. FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.

Free Consultation

If you are concerned about investment losses with LJM Partners or LJM Preservation and Growth Fund, the securities attorneys at The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, call The White Law Group at 1-888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit www.WhiteSecuritiesLaw.com.