A Fort Lauderdale, Fla., former investment advisor, who had been fired for selling investments not approved by his employer, now has been indicted for fraud after setting up his own investment business, U.S. Attorney Zane David Memeger announced Thursday.

Sean Donald Premock is charged with multiple counts of mail, wire and securities fraud for taking $800,000 in investment money from mostly elderly investors and using it for himself or to pay earlier investors, the U.S. Attorney says.

Premock held himself out to be a stock broker and investment advisor even after his licenses were suspended and after he was permanently barred by Finra from working as a stock broker or otherwise associating with a firm that sold securities to the public, according to the indictment.