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Financial adviser accused of spending investor’s $200K

November 19, 2018

CONCORD, N.H. (AP) — 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.

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