Scotrun, Pennsylvania’s Anthony Diaz Allegedly Defrauded Dozens out of Millions

New York investor rights attorneysAnthony Diaz, a Scotrun, Pennsylvania, financial planner, bilked dozens of clients out of millions of dollars over the last few years, by buying unsuitable variable life insurance investments on the behalf of approximately 80 clients, and intentionally implementing deceptive financial information and dates, which included faking the net worth of clients in order to appear as if they satisfied the minimum wealth needs of a fund, FINRA’s Department of Enforcement alleges. In addition, FINRA further alleges, Diaz engaged in unauthorized trading, falsification of books and records. A majority of these embattled clients were near retirement age, and the funds had large exit fees, FINRA further reports. From March 2010 through April 2011, Diaz, FINRA alleges, cooked the books and made 71 false records to make unauthorized trades, and one investigator even asserted that Diaz forged a woman’s signature, and inflated her risk tolerance and tax bracket.

Diaz Made Multiple Manipulations, Allegedly, Including $107,000 of Unauthorized Purchases on Couple’s Behalf

In a seemingly endless laundry list of financial manipulation, Anthony Diaz, FINRA’s complaint also alleges, purchased a couple’s account, they declined his proposals for purchases, yet Diaz still completed $107,000 of unauthorized purchases on their behalf.  In another case, according to the enforcement bureau, Diaz also made more than $2 million in commissions on the sale of illiquid investments his older clients. FINRA also reports that Diaz was involved in a drove of various alternative Investments, including, ICON Leasing Fund Eleven, LLCICON Leasing Fund Twelve, LLC, ICON Equipment and Corporate Infrastructure Fund Fourteen, LLC, the Grubb & Ellis Apartment REIT, and Inland American Real Estate Trust, Inc.

FINRA Alleges Diaz Lied Regarding Firm Firings, Recommends Diaz Pay Restitution

Diaz habitually misled his clients, FINRA alleges, that he had voluntarily left previous firms, both through statements and answers regarding the circumstances, and, finally, FINRA’S Department of Enforcement recommended that Diaz make complete restitution to all his victims and return any “ill-gotten” gains. According to regulatory records, since first entering the securities industry in 2000, Anthony Diaz has worked for 11 brokerage firms.

Investment Fraud Lawyers Investigating

The Peiffer Rosca Wolf securities attorneys often represent investors who lose money as a result of investment fraud, or stockbroker misconduct. 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 Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Anthony Diaz

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1168 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.