Anthony Diaz Accused of Violating Several Regulatory Rules Designed to Protect Investors

Cleveland stockbroker fraud lawyerAnthony Diaz, formerly associated with SII Investments, Inc. and Matrix Capital Group, Inc., is accused of recommending unsuitable variable annuity exchanges and falsifying records, according to a complaint filed by the Financial Industry Regulatory Authority’s (“FINRA”) Department of Enforcement.

Diaz Allegedly Recommended Variable Annuity Exchanges Without Understanding Their Features

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, according to the complaint. Each customer invested in the same fund, with the same subaccount allocation and the same rider selected, according to FINRA. Diaz recommended these exchanges without understanding the features of the new product, and put the same three invalid justifications for almost every one of the exchanges, according to the complaint.

Diaz Accused of Wrongfully Informing Customers That Their Investments Were Guaranteed

Diaz is accused of engaging in misconduct relating to the sale of direct participation partnerships and REITs (real estate investment trusts) between February 2007 and February 2010, according to the complaint. He falsely told seven customers that the investments were either guaranteed or guaranteed to pay certain amounts of interest, according to FINRA. Making such guarantees is prohibited by regulatory rules designed to protect investors. Diaz is accused of also violating suitability rules designed to protect investors by recommending one of these illiquid products to an 88-year-old customer, according to the complaint.

Diaz Allegedly Falsified Information Pertaining to His Customers

Diaz 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 the aforementioned direct participation partnerships and REITs, according to FINRA. However, those customers were not eligible.

Diaz Allegedly Forged a Customer’s Signature and Made Unauthorized Trades

Diaz is accused of altering or causing the alteration of the dates that appeared next to the signatures of customers on authorizations to transfer accounts on at least two occasions in 2010 and 2011, and forged or caused the forgery of a customer’s signature on an investor profile form in 2011, according to the complaint. Diaz also made unauthorized trades in the accounts of at least seven customers, according to FINRA.

Investment Fraud Lawyers Investigating Diaz

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1163 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.