HomeLife InsuranceEx-LPL Dealer Sentenced to fifteen Years in Jail for Stealing $1.3M From...

Ex-LPL Dealer Sentenced to fifteen Years in Jail for Stealing $1.3M From Consumer


A former LPL Monetary dealer used to be sentenced on Oct. 2 to 5 years in jail for one rely of securities fraud, 5 years in jail for one rely of annoyed robbery and 5 years in jail on one rely of id fraud, for a complete of 15 years, David P. Fornshell, Warren County, Ohio prosecutor, introduced.

Patrick Noel Thayer defrauded a Warren County consumer, stealing greater than $1.31 million from her funding proceeds, in keeping with Fornshell.

Patrick Noel Thayer used to be additionally ordered to pay a stability of over $1 million in restitution to the cleient, Fornshell stated.

In 2013, Thayer, 48, of Lebanon, Ohio, opened a checking account within the consumer’s identify with out her wisdom or consent, in keeping with Fornshell. He then began promoting securities from her brokerage account and transferred the proceeds to the brand new checking account, from which he used the proceeds for his personal non-public bills.

The ones bills incorporated a down cost on his house, loan bills, automotive loans, bank card bills, and the acquisition of a “tiny” area in Colorado for a circle of relatives member, in keeping with Fornshell.

LPL didn’t straight away reply to a request for touch upon Monday.

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