Securities Lawyers Blog
The Financial Industry Regulatory Authority (FINRA) has filed a complaint against broker Jamie Diaz (Diaz) concerning allegations that form December 2009, through November 2011, Diaz engaged in securities fraud through deceptive and manipulative devices to convert approximately $850,000 from four customers. FINRA alleges that Diaz also converted $50,000 from a registered representative who worked with Diaz’s at National Securities Corporation (“National Securities”).
According to FINRA, Diaz told customers that their funds would be used to invest in two new restaurants in New York City and told another customer that the funds would be invested in real estate in New York City and a resort in Bermuda. However, FINRA alleged that Diaz did not invest the funds as he had represented to his customers. Instead, FINRA alleges that Diaz converted the funds for his personal use including to paying expenses related to his branch office business and to pay earlier investors.
Diaz first became employed in the securities industry in November 2000. Thereafter, from 2003 through 2007, Diaz was registered with GunnAllen Financial, Inc. (“GunnAllen”). From July 2007 through December 2011, Diaz was associated with National Securities. According to Diaz’s BrokerCheck Diaz was also associated with or employed by Worldwide Asset Protection, an insurance and estate planning company, Worldwide Wealth Management, Worldwide Asset Management, The Water Initiative LLC, and Nuela Restaurant LLC.