Arni Jat Diamond (also known as Arni Jay Diamond) of Jacksonville Florida a stockbroker formerly registered with Kalos Capital Inc. is the subject of a customer initiated investment related written complaint which was resolved on January 18, 2021 for $17,749.00 in damages based upon allegations that Diamond’s alternative investment advice or handling of the customer’s account resulted in damages to the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Diamond has been identified in ten more customer initiated investment related disputes regarding accusations of his misconduct while employed by Berthel Fisher Company Financial Services, US Allianz Securities Inc., FSC Securities Corporation and Kalos Capital. On January 18, 2021, a customer initiated investment related complaint concerning Diamond’s conduct was resolved for $15,480.74 in damages supported by allegations that Diamond’s alternative investment recommendations were not supervised by Kalos Capital. According to the complaint, there was insufficient due diligence undertaken prior to the customer being told to invest in direct participation programs or limited partnerships.
Another customer initiated investment related FINRA securities arbitration claim concerning Diamond’s activities was settled for $21,302.00 in damages founded on accusations of a breach of fiduciary duty and breach of contract in regard to direct investments. FINRA Arbitration No. 20-01154 (Jan. 18, 2021). According to the claim, during the time that Diamond was associated with Kalos Capital, he provided unsuitable advice to the customer. Kalos Capital allegedly failed to supervise him.
Diamond is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $7,200.00 in damages based upon allegations of the failure to supervise by Kalos Capital and the lack of reasonable due diligence relating to DPPs and LPs. FINRA Arbitration No. 20-01438 (Jan. 18, 2021). The claim alleges that Diamond breached a fiduciary duty resulting in damages.
An additional customer initiated investment related FINRA securities arbitration claim involving Diamond’s conduct was resolved for $31,358.00 in damages supported by accusations of the stockbroker’s failure to conduct due diligence prior to advising the customer to invest in GPB and United Development Funding (UDF). FINRA Arbitration No. 20-02083 (Jan. 18, 2021). Another customer initiated investment related complaint regarding Diamond’s conduct was settled for $14,000.06 in damages on January 18, 2021 founded on allegations of unsuitable alternative investment recommendations by Diamond at Kalos Capital.
Diamond is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon accusations of negligence relating to the sale of real estate, oil and gas, and equipment leasing securities. FINRA Arbitration No. 20-02105 (July 6, 2020). According to the claim, the investments were misrepresented to the Berthel Fisher Company Financial Services customer. The claim also alleges that the stockbroker omitted the fees and risks of investing.
Diamond was registered with Kalos Capital between July 25, 2013 and September 14, 2018. He was registered with Dempsey Lord Smith LLC between September 14, 2018 and October 15, 2020 at which point he was terminated based on allegations of him failing to abide by its procedures and policies.
