{"id":4835,"date":"2018-01-19T17:22:48","date_gmt":"2018-01-19T23:22:48","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4807"},"modified":"2022-03-22T15:08:06","modified_gmt":"2022-03-22T20:08:06","slug":"finra-awards-4m-elderly-investors-bilked-ex-first-allied-securities-broker","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-awards-4m-elderly-investors-bilked-ex-first-allied-securities-broker\/","title":{"rendered":"FINRA Awards more than $4M to Elderly Investors Bilked by Ex-First Allied Securities Broker"},"content":{"rendered":"

A Financial Industry Regulatory Authority arbitration panel has awarded over $4.3M to investors in their elder financial fraud case against former First Allied Securities broker Anthony Diaz. The plaintiffs contend that he invested their retirement funds in high risk private placement investments that were unsuitable for them. They are alleging inadequate supervision<\/a>, misrepresentation and omissions, unsuitability<\/a>, fraud, and other violations.<\/p>\n

Diaz is considered to be a rogue broker by the regulator, who barred him in 2015. He not only worked at 11 firms win 14 years, but also he appeared to have no problem getting another job whenever he was let go from a previous. Diaz\u2019s BrokerCheck profile shows that he is named in 53 customer dispute and regulatory disclosures.<\/p>\n

The arbitration award to the investors is over $1M in compensatory damages, more than $413K in legal fees, and $2.9M in punitive damages. They settled with First Allied Securities last year.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A Financial Industry Regulatory Authority arbitration panel has awarded over $4.3M to investors in their elder financial fraud case against former First Allied Securities broker Anthony Diaz. The plaintiffs contend that he invested their retirement funds in high risk private placement investments that were unsuitable for them. They are alleging inadequate supervision, misrepresentation and omissions, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3739,3803],"tags":[2945],"class_list":["post-4835","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-finra","category-senior-investors","tag-first-allied-securities"],"yoast_head":"\nFINRA Awards more than $4M to Elderly Investors Bilked by Ex-First Allied Securities Broker — Investor Lawyers Blog — January 19, 2018<\/title>\n<meta name=\"description\" content=\"A Financial Industry Regulatory Authority arbitration panel has awarded over $4.3M to investors in their elder financial fraud case against former First — January 19, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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