Adviser denies allegations of spending investor’s $200K
CONCORD, N.H. (AP) — A lawyer representing a financial adviser in Maine accused of spending over $200,000 of an investor’s money on real estate deals and a cannabis business says his client “categorically denies” the allegations.
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.
Jeffrey Bennett, a lawyer in South Portland representing Grady, said Tuesday that Grady acted in compliance with the law “at all times.” He said the allegations result from an incomplete and flawed investigation. Bennett said he’s confident Grady will be vindicated in court.
Grady has 30 days to request a hearing.