Anthony Diaz Charged with $293,000 Investment Scam

A 48-year-old financial advisor from East Stroudsburg, Pennsylvania, has been charged with defrauding his clients out of nearly $300,000 in an investment scam.

Anthony Diaz, a registered representative and certified financial planner, allegedly used false and misleading statements to induce his clients to purchase high-risk and unsuitable investment products between 2006 and 2015.

According to the indictment, Diaz operated the scheme while associated with several financial investment firms, including his own office under the name Financial Planners Group of America.

As part of the scheme, Diaz allegedly instructed clients to sign blank or partially completed documents, provided false information on their net worth, income, risk tolerance, and investment experience, and falsely assured them they would have access to their funds.

Diaz also allegedly failed to explain that the alternative investment products were illiquid and had no public market for resale, and made it appear that clients were receiving interest payments when they were actually receiving a return of their initial capital investment.

The indictment charges Diaz with six counts of wire fraud, each relating to an interstate wire transmission concerning investments made in connection with the fraud scheme. If convicted, Diaz faces a maximum penalty of 20 years of imprisonment.

The investigation was conducted by the Federal Bureau of Investigation, and the case is being prosecuted by Assistant United States Attorneys Evan Gotlob and Robert O’Hara. Anyone with information concerning financial services rendered by Diaz and/or Financial Planners Group of America should contact the U.S. Attorney’s Office at 570-348-2800.

The Financial Industry Regulating Authority (FINRA) permanently banned Diaz from acting as a broker or associating with firms that sold securities to the public in May 2015, and the Pennsylvania Department of Banking and Securities banned him from representing an issuer or seller of securities in Pennsylvania and from being registered as a broker-dealer, agent, or investment advisor in Pennsylvania in June 2015.

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