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Written by 4:34 pm Blog, Securities Fraud Articles

Financial Advisor Accused of Forgery

According to the Pocono Record, the Financial Industry Regulatory Authority (FINRA) has accused insurance broker, Anthony Diaz, of purchasing unsuitable life insurance investments on behalf of nearly 80 clients. Unfortunately, most of the investors were reportedly near retirement.

FINRA has alleged that Diaz falsified the net worth of some clients in order for those clients to meet minimum net worth requirements of more sophisticated investment products.

Additional allegations against Diaz include unsuitable investment recommendations and making “guarantees” to persuade potential clients. Furthermore, between March 2010 and April 2011, it is alleged that Diaz created approximately 71 false records and made unauthorized trades on behalf of clients.

When brokers deliberately deceive clients, engage in ruthless business tactics, and commit forgery they are likely in violation of several securities laws and FINRA regulations. If proven, the broker and the brokerage firm can be liable for investment losses.

According to BrokerCheck Diaz has worked for a number of broker dealers in Scotrun, Pennsylvania. He worked for Kovack Securities from 04/2011 – 08/2011, International Financial Solution from 08/2011 – 03/2012, and Sandlapper Securities from 03/2012 – 09/2012. Dias is currently registered with IBN Financial Service.

If you were a client of Anthony Diaz and would like to discus your ability to recover investment losses through FINRA dispute resolution, please call The White Law Group at (312)238-9650 for a free consultation.

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.

To learn more about The White Law Group, visit www.WhiteSecuritiesLaw.com.

Tags: , , , , , , Last modified: May 31, 2023