Scotrun, PA ex-broker barred by FINRA, NJ Bureau of Securities and PA Bureau of Securities
According to FINRA, Anthony Diaz (Scotrun, PA CRD 4131948) entered into an Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority (FINRA) on May 27, 2015. Diaz agreed, without admitting or denying FINRA’s allegations, to a bar from acting as a broker or otherwise associating with firms that sell securities to the public.
FINRA alleges Anthony 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, or REITs, during the period February 2007 through February 2010. FINRA claims Diaz told seven customers that the investments were either guaranteed or guaranteed to pay certain amounts of interest. Additionally, Diaz purportedly falsified or caused the falsification of the liquid net worth, 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.
FINRA states that Diaz 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 reportedly made in the accounts of at least seven customers of Diaz, according to FINRA. In the fourteen years that Diaz was working in the securities industry, he was purportedly fired by or allowed to resign from more than half of the eleven firms he was employed with.
According to his FINRA BrokerCheck report, Anthony Diaz has 52 (fifty-two) disclosure events listed. 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, and his registration in the State of New Jersey was purportedly revoked in April 2017.
This information, which is publicly available on FINRA’s website, has been provided by The White Law Group.
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.
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