BRATTLEBORO — The Vermont Department of Financial Regulation ordered a Brattleboro man to stop representing himself as an investment professional after it received a complaint about a company called Therieau Financial Services.
According to the cease-and-desist order, Therieau received six checks totaling $21,000 from the complainant to be used toward the purchase of specific securities, including stock in Apple, Disney, and Tesla, that Therieau had recommended to her based on what she had told him she was looking to accomplish with the funds.
“The department’s investigation determined that [William J.] Therieau had misled the consumer through a consulting agreement that contained false and misleading statements,” states a news release from Michael S. Pieciak, commissioner of Financial Regulation. “Further, neither Mr. Therieau nor his purported company were registered in Vermont or any other jurisdiction to provide investment advice or services. Last, the department found no evidence that Mr. Therieau had invested the consumer’s funds as directed.”
DFR is continuing its investigation into Therieau and is asking anyone who might have spoken with, or entered into an agreement with, Therieau or Therieau Financial Services for investment advice or services to contact the Securities Division via the department hotline at 833-DFR-HOTLINE or by e-mail at email@example.com.
“Our department’s top priority is protecting Vermont consumers and we will take swift action to do so when it is warranted,” Pieciak stated in the news release. “The most important thing a consumer can do to protect themselves is to check whether a financial professional is properly registered prior to working with them, which you can do by visiting the department’s website or calling our consumer hotline.”
According to the order, the complainant entered into an agreement with Therieua, of 155 Maple St., on March 16. She filed her complaint on Sept. 23 because she suspected her funds had not been used to purchase securities as she had not received statements, confirmations, or communications pertaining to such transactions.
“The next step in our process will be whether or not the perpetrator contests the cease-and-desist order, and if not, we will be seeking civil restitution for the victim,” Pieciak told the Reformer.
According to court records, Therieau, 31, was arrested on June 22, suspected over the previous several months of physically abusing and putting in fear for their safety his elderly family members. Those charges are pending.
The Brattleboro Police Department is investigating Therieau’s activities that resulted in the cease-and-desist order.