Ex-stockbroker ordered to pay over $4M to former clients

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A Pennsylvania stockbroker who was kicked out of the securities industry for fleecing customers has been ordered to pay more than $4 million in damages.

Wall Street's regulator ruled last week that Anthony Diaz must pay damages to 19 former clients.

Diaz earned millions of dollars by pushing high-fee, high-risk "alternative investments." His smooth-talking tactics repeatedly landed him in hot water. Records show he affiliated with 11 investment firms in 15 years, getting fired from five of them and resigning from another before regulators finally gave him the boot.

Diaz's attorney did not immediately return a message seeking comment. He previously said Diaz believes his actions were "proper and legal."

Diaz still faces federal fraud charges. His criminal trial is scheduled for April.