A financial adviser in Maine has been accused of spending over $200,000 of an investor's money on real estate deals and a cannabis business.
The New Hampshire Bureau of Securities Regulation recently issued an order for Sean Grady, and his firm, Grady & Associates, in Portland, to stop doing business. The bureau said it investigated a complaint into an elderly client's loss of funds.
The complaint said Grady came to her home in Charlestown, New Hampshire, last year and talked her into transferring her money from a firm that terminated him.
Authorities moved to freeze Grady's Maine bank accounts in September. The bureau fined him and ordered him to pay restitution.
Grady has 30 days to request a hearing. It wasn't immediately known if he had a lawyer and phone numbers weren't working.