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United States Attorney Gregory K. Davis Southern District of Mississippi
Gulfport, Mississippi. – Eduardo Guillermo Diaz, 58, of Ocean Springs, Mississippi, pled guilty on Tuesday, March 22, 2016, before U.S. District Judge Louis Guirola, Jr., to one count of mail fraud, U.S. Attorney Gregory K. Davis announced today.
Diaz admitted that, while operating an investment business out of his office in Ocean Springs, he devised a mail and wire fraud scheme to defraud his clients of significant sums of money, totaling over $1 million. Diaz represented that he was providing services to his clients as an investment advisor when, in fact, he converted the funds to his own personal use. Diaz also used new investor’s monies to pay alleged dividends and make repayments or refunds to previous investors while, at the same time, deceiving and lulling his clients into believing that the funds were properly and legitimately invested.
Eduardo Guillermo Diaz will be sentenced on June 21, 2016, at 10:00 a.m., by U.S. District Judge Louis Guirola, Jr. He faces a maximum penalty of 20 years in federal prison and a $250,000 fine. This case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Andrea Jones.
