Soreide Law Group is investigating, on behalf of clients, former Next Financial broker,
EDUARDO GUILLERMO DIAZ also known as EDWARD DIAZ (CRD#: 1621873)
On March 22, 2016, Diaz pled guilty to one count of mail fraud before the United States District Court for the Southern District of Mississippi in United States. On June 22, 2016, a judgment in the criminal case was entered against Diaz. He 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 and to make restitution in the amount of $641,435.88. In connection with that plea, Diaz admitted that from February 2012 through October 2015, he devised a scheme to defraud investors to obtain money for his own personal use.
According to court records, as part of the scheme, Diaz solicited significant sums of money from clients, several of whom were prior business relationships and friends. He 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 Diaz for the purpose of purchasing an annuity. None of the money was invested in an annuity. Instead, Diaz deposited the check into an account in the name of Diaz Financial Services and the funds were converted to Diaz and subsequently used to pay a variety of personal and business related expenses.
The SEC has barred Edward Diaz from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public.FINRA has also barred Diaz from acting as a broker or otherwise associating with firms that sell securities to the public.
According to FINRA’s BrokerCheck, Diaz has 8 Disclosures on his report. Diaz was registered in the securities industry for 25 years and was listed with 5 firms, the most recent listed below:
12/10/2012 - 01/10/2013 KOVACK SECURITIES INC - FT. LAUDERDALE, FL
12/19/2008 - 11/09/2012 NEXT FINANCIAL GROUP INC - BILOXI, MS
If you were a victim of this fraud perpetrated by EDUARDO GUILLERMO DIAZ also known as EDWARD DIAZ due to his actions, recommendations or the failure to be supervised by his firm, Next Financial of Biloxi, MS, call the Soreide Law Group and speak to a securities lawyer regarding the possible recovery of your losses in a FINRA arbitration at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent clients nationally before FINRA. Let our experience work for you.
