 While Dioguardi's appeal in his bankruptcy fraud conviction was pending, he was indicted for securities fraud.According to prosecutors, Dioguardi and Anthony Di Lorenzo, heir-apparent to the Genovese crime family, conspired to purchase 28,000 shares of Belmont Franchising Corporation, a substantially worthless over-the-counter stock.Dioguardi, Di Lorenzo and others opened accounts at numerous brokerages under false names, and purchased shares of Belmont from themselves and from each account in an attempt to inflate the price.