Recently, the Financial Industry Regulatory Authority (FINRA) barred former financial advisor, Anthony Diaz from the industry. FINRA alleged that Mr. Diaz induced approximately eighty customers to enter into variable annuity exchanges, often subject to significant surrender charges, without a reasonable basis for recommending those exchanges. Diaz allegedly engaged in misconduct in connection with the sale of direct participation partnerships and real estate investment trusts (REITs), during February 2007 until February 2010. Allegedly, Diaz told seven customers that the investments were either guaranteed or guaranteed to pay certain amounts of interest. He also allegedly falsified or caused the falsification of the liquid net worth, and/or income information for at least nine customers to make it appear that they were eligible to invest in the products described in the preceding paragraph when they, in fact, were not. Diaz also allegedly altered or caused the alteration of the dates that appeared next to the signatures of customers on authorizations to transfer accounts on at least two occasions. Unauthorized trades were allegedy made in the accounts of at least seven customers of Diaz. These are all against securities laws. His former firm, IBN Financial Services, may be liable for investment losses suffered with Anthony Diaz, because the firm had a reasonable duty to properly supervise him.
Diaz was registered with Horwitz & Associates, Edward Jones, Raymond James, Round Hill Securities, First Allied Securities, SII Investments, Matrix Capital Group, Kovack Securities, International Financial Solutions, Sandlapper Securities, and IBN Financial Services in Scrotrun, Pennsylvania from September 2012 until April 2015. He has 41 customer disputes against him, two of which are currently pending. He has been permanently barred from the industry. We are Chicago-based securities attorneys who help investors recover their losses in the FINRA arbitration forum on a contingency fee basis. Please call us today to find out how. The call is free with no obligation.
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