September 2016 UPDATE–Eduardo Diaz was permanently barred from the securities industry by the US Securities and Exchange Commission (SEC) on 9/7/2016, after pleading guilty to one count of mail fraud. He was sentenced to 70 months in prison and ordered to pay a fine of $15,000 and make restitution in the amount of $641,436.
Diaz admitted that from Feb 2012-October 2015, while employed by NEXT FInancial Group and Kovack Securities, he devised a scheme to defraud investors to obtain money for his own use. As part of the scheme he employed material false representations and promises, solicited significant sums of money from clients.
November 2015
Former stockbroker Eduardo “Eddie” Guillermo Diaz, was indicted by a federal jury for wire fraud and other fraud charges for converting over $1 million of investor money to his own use.
Diaz opened investment retirement firm Thompson, Diaz, Baxter & Associates in 1993. In 2012 he opened Diaz Retirement Consultants in Ocean Springs, MS, and was known for his TV commercials, touting himself as the “most interested man on the Coast”.
According to the indictment the crimes allegedly occurred between February 2012 and October 2015 and may involve others.
January 2016
According to news reports Diaz is seeking a postponement of his trial while he attempts to negotiate a plea.
Diaz-Barred from Securities Industry by FINRA
According to FINRA records, Diaz was permanently barred from the securities industry in April 2014. He has several customer complaints, one of which was settled for $250,000 relating to the time he was registered with NEXT Financial Group.
Lose Money While Diaz was Handling Your Account?
If you lost money in an account handled by Diaz you may be entitled to recover damages from his former employer. Diaz was registered with the following broker dealers and they may be liable for the mishandling of your account:
Kovack Securities, Inc.
12/2012-1/2013
Next Financial Group, Inc.
12/2008-11/2012
AIG Financial Advisors, Inc.
10//2005-12/2008
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Nationwide Representation
TollFree: 877-224-3199
Florida-561 391 1900
Texas-512-329-2870
