Warren Co. man accused of stealing woman’s identity to defraud over $1M

LEBANON — Correction: A previous version of this story contained a jail mugshot of a person not affiliated with the case. We deeply regret the error.

A Warren County man was indicted for stealing over $1 million from a woman residing in his county.

>> TRENDING: Preble Co. man arrested for stolen property, weapons, drug possessions

Patrick Noel Thayer, 47, of Lebanon, was indicted on two counts of securities fraud, a first and second degree felony; one count of aggravated theft, a second degree felony; one count of telecommunications fraud, a first degree felony; and one count of identity fraud, a second degree felony.

Thayer was accused of defrauding a Warren County woman and stealing over $1.31 million from her investments proceeds, Prosecutor David P. Fornshell said.

Thayer was once the former 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.

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.

The Ohio Department of Commerce, Division of Securities, and the Warren County Prosecutor’s Office investigated the case for the indictment.

Thayer was scheduled to be arraigned on Friday, June 30, in the Warren County Common Pleas Court.

© 2023 Cox Media Group