New Charges against Anthony Diaz for Mail & Wire fraud

Update – Anthony Diaz -Securities Fraud Investigation

The White Law Group continues to investigate potential claims involving former financial advisor Anthony Diaz. The firm has received numerous calls from investors who are concerned about their investments with Diaz. If you suffered losses investing with Anthony Diaz, The White Law Group may be able to help you to recover your losses through FINRA Arbitration.

According to the United States Attorney’s Office for the Middle District of Pennsylvania, Anthony Diaz, 48, of East Stroudsburg, PA was charged this week in a superseding indictment with additional charges of mail and wire fraud.

Former financial advisor, 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.

Diaz reportedly received substantial fees and commissions to which he was not entitled.  The new superseding indictment added five counts of mail and wire fraud and additional victims.

As we told you in January, Diaz has reportedly been ordered to pay more than $4 million in damages ahead of his federal trial on criminal fraud charges.

According to his FINRA BrokerCheck report, he was affiliated with 11 investment firms in 15 years, getting fired from five of them and resigning from another before he was finally barred by FINRA.

Diaz allegedly operated his scheme of pushing high-fee, high-risk alternative investments, between approximately 2006 and 2015. The Financial Industry Regulatory Authority (FINRA) website says that Diaz was registered with First Allied Securities from June 2005 until April 2009. Most recently he worked for IBN Financial Services in Scotrun, PA from September 2012 until April 2015.

Anthony Diaz has 42 customer complaints listed on his Broker report.

The new indictment charges Diaz with seven counts of wire fraud and four counts of mail fraud.  Each count relates to an interstate wire transmission or interstate mailing concerning investments made in connection with the fraud scheme, totaling approximately $611,000 investments, between December 2012 and May 2014.

Diaz faces up to 30 years in federal prison.

Recovery of Investment Losses

Brokers have a fiduciary duty to make investment recommendations that are consistent with the clients net worth, investment experience and objectives. Risk tolerance, age, and liquidity needs also need to be considered.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

Have you suffered losses investing with Anthony Diaz? If so, the attorneys of The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, please call the offices at 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 Franklin, Tennessee.

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

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