Eduardo Guillermo Diaz (Eduardo Diaz) a/k/a Edward Diaz Formerly Licensed with Next Financial Group, Inc. and Kovack Securities, Inc., Pleads Guilty to Frauds and Swindles – Goodman & Nekvasil P.A, May Recover Your Investment Losses
Goodman & Nekvasil P.A, May Recover Your Investment Losses - Eduardo Guillermo Diaz (Eduardo Diaz) a/k/a Edward Diaz Formerly Licensed with Next Financial Group, Inc. and Kovack Securities, Inc., Pleads Guilty to Frauds and Swindles
Eduardo Diaz was formerly licensed with Next Financial Group, Inc. and Kovack Securities, Inc. FINRA reports that Eduardo Diaz pled guilty to a felony charge of frauds and swindles (mail fraud). FINRA reports that Eduardo Diaz was sentenced to a prison term of 70 months followed by three years of supervised release and ordered to pay a fine of $15,000 with interest imposed, and ordered to make restitution in the amount of $641,435.88.
FINRA reports that Eduardo Diaz was barred from the securities and investment banking industry by the SEC on September 7, 2016. The SEC reported to FINRA that Eduardo Diaz admitted that from February 2012 through October 2015, Eduardo Diaz devised a scheme to defraud investors to obtain money for Eduardo Diaz’ own personal use; As part of the scheme, Eduardo Diaz employed material false representations and promises; Eduardo Diaz solicited significant sums of money from clients, several of whom were prior business relationships and friends; Eduardo Diaz also used investors’ money to pay off previous investors; and in one instance, on or about February 23, 2012, an investor wrote a check for $50,000 and mailed it to Eduardo Diaz for the purpose of purchasing an annuity. The SEC reported to FINRA that Eduardo Diaz admitted that none of the money was invested in an annuity. Instead, the SEC reported to FINRA that Eduardo Diaz admitted that Eduardo Diaz deposited the check into an account in the name of Diaz Financial Services and the funds were converted to Eduardo Diaz and subsequently used to pay a variety of personal and business related expenses.
FINRA reports that a lawsuit involving Eduardo Diaz’ conduct with Next Financial Group, Inc. was filed, with the customer alleging that Eduardo Diaz misrepresented the investment, failed to disclose the true risk of the investment, failed to provide the correct status of investment, and put fraudulent information on her application relating to an investment in an LLC. This lawsuit was settled for $250,000, with Eduardo Diaz contributing $60,000 to this settlement.
If you lost any money on investments with Eduardo Diaz, or if funds were stolen from you, you may be able to recover your losses from Next Financial Group and/or Kovack Securities, Inc. This is because Next Financial Group and/or Kovack Securities, Inc. had a duty to supervise Eduardo Diaz.
If you lost money on investments with Eduardo Diaz and believe that the investments may have been unsuitable or otherwise improper for you, or if funds were misappropriated from you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Next Financial Group, Inc. and/or Kovack Securities, Inc. concerning Eduardo Diaz’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Eduardo Diaz, or if funds were stolen from you and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.Back to Blogs