Eduardo Diaz Barred by SEC for Securities Fraud
Have you lost money with financial advisor Eduardo Diaz of Ocean Springs, Mississippi? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Eduardo G. Diaz. The SEC barred Diaz from the securities industry regarding allegations that from February 2012 to October 2015, Diaz defrauded investors, telling them that he would invest money on their behalf but instead used it for personal expenses.
The SEC alleged that Eduardo Diaz also pleaded guilty to one count of mail fraud in March 2016 related to these allegations. Diaz was sentenced to 70 months in prison, and ordered to pay restitution of $641,000 and a $15,000 fine. In these types of criminal cases, victims rarely see any significant monies paid from restitution orders.
Eduardo Diaz was a financial advisor and registered representative of Next Financial Group from December 2008 to November 2012. He also worked with Kovack Securities from December 2012 to January 2013. He worked at branch offices in Biloxi, Mississippi and Fort Lauderdale, Florida. Diaz also ran a company called Diaz Retirement Associates.
Brokerage firms like Next Financial Group have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Mississippi and Florida in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including victims of Ponzi schemes of former Next Financial Group representatives.
Our office handles all of our arbitration cases on a contingent fee basis, meaning you do not pay unless we recover money for you.
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HAVE YOU LOST MONEY WITH EDUARDO DIAZ OR NEXT FINANCIAL GROUP?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
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Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.