Pennsylvania Broker Found to Have Sold Unsuitable Investments

Posted on September 5th, 2014 at 4:56 PM

From the Desk of Jim Eccleston at Eccleston Law Offices

Anthony Diaz, a broker from Pennsylvania has agreed to charges by the FINRA that he made unsuitable investments.

Since 2000, Diaz worked for 11 different firms, and has been fired or asked to resign from six of those firms. During that period, Diaz made more than $2 million in commissions on unsuitable investments. He also fabricated records of dozens of clients.

Diaz sold investment funds to clients of different ages and with different income requirements without regard to the clients’ needs. He also misrepresented clients’ incomes and wealth levels to make them appear to qualify for certain investments.

Diaz also allegedly committed fraud in selling alternative investments. Diaz told a client he would receive a guaranteed 9.1 percent return with no risk to his original investment, which would be returned after five years.The investment made no such guarantees.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

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