WARREN COUNTY — A Warren County man accused of stealing over $1 million from a woman residing in his county has pleaded guilty to multiple charges.
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Patrick Noel Thayer, 47, of Lebanon, pled guilty on August 4 to securities fraud, aggravated theft, and identity fraud.
Thayer defrauded a Warren County woman and stole over $1.31 million from her investment proceeds, the Warren County Prosecutor’s Office said in a media release.
Thayer was once the owner of Broadway Financial Solutions, a tax preparation service in Lebanon. He also worked as a securities salesperson for various brokerage firms and was later licensed as an investment adviser.
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In 2013, Thayer used the victim’s personal identifying information to open a new bank account in her name without her knowledge or consent. Thayer then began selling securities from the victim’s brokerage account and transferred the proceeds to the newly-opened bank account which he controlled.
Thayer utilized the funds from the newly-opened bank account for his own personal expenses including a down payment on his home, mortgage payments, car loans, credit card expenses, and the purchase of a “tiny house” in Colorado for a family member.
The victim became aware of the fraud in 2022 when she was contacted by the IRS about the bank account that Thayer had opened in her name.
A sentencing hearing is scheduled for October 2, 2023 at 1:00 p.m.
Thayer remains booked in the Warren County jail at this time.