Fired five times and banned from trading, a stockbroker goes on trial for fraud.
The stockbroker promised his clients a "no lose" investment, but now he is on trial for fraud, CBS News reports. Prosecutors allege Anthony Diaz sold high-risk, high-fee alternative investments and filed false documents with the U.S. Securities and Exchange Commission (SEC) about clients' suitability to invest in those products. Additionally, the advertised guarantee rates of return were "highly speculative" and tied up clients' money for long periods, court documents allege.
