Gulfport Investor Accused Of Defrauding Investors

GULFPORT, MS (AP) — An Ocean Springs retirement investor has been indicted by a federal grand jury of borrowing from investors and converting more than $1 million for his own use.

         The Sun Herald’s Margaret Baker reported on Monday that Eduardo "Eddie" Guillermo Diaz has been accused of making fraudulent statements about potential investments to entice clients to give him large amounts of their money that he later used illegally.

         Diaz pleaded not guilty Thursday. He is free on an unsecured $25,000 bond.

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         Diaz used some of his clients' money to "enrich" himself, court papers say, while other clients' money was used to cover the costs of other investor dividends or to refund or repay previous investors in an attempt to cover up a scheme to defraud the clients.

         The grand jury indicted Diaz on four counts of investor fraud and two counts of wire fraud.

         The crimes allegedly occurred in Jackson and Harrison counties at different times between February 2012 and the date of Oct. 6 indictment. The indictment says others helped Diaz in his scheme.

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         He is set for trial on a court calendar that starts Dec. 7.

         Diaz is no longer a registered broker, according to FINRA BrokerCheck Records.

         For more information

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