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Tuesday 23rd April 2024

PA FINANCIAL ADVISOR SENTENCED TO MORE THAN 17 YEARS IN PRISON

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A former Pennsylvania financial adviser who earned millions by pushing high-risk, high-fee investments on unsuspecting retirees was sentenced Friday to more than 17 years in federal prison. A judge said Anthony Diaz took advantage of dozens of clients, some of whom lost their life savings or were unable to send their children to college as a result of the fraud. Diaz, who has been living in Florida, was handcuffed in the courtroom and led away to immediately begin serving his sentence. U.S. District Judge Malachy Mannion called Diaz an unrepentant and sophisticated criminal who brazenly “lied through his teeth” to the jury, then repeated the lies in his statement to the court Friday… asking Diaz… “Are you such a con man that you don’t even know you’re involved in a con?” The 11 clients whom Diaz was charged with defrauding lost as much as $3.5 million. The judge ordered Diaz to pay restitution, though it’s unlikely his former clients will see any money.

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