Former LPL Advisor Patrick Noel Thayer of Lebanon, Ohio, was sentenced on Monday to 15 years in prison and ordered to pay more than a million dollars in restitution to a victim he defrauded over almost a decade.

Thayer, 48, was convicted of defrauding the victim, a Warren County, Ohio woman, and stealing over $1.31 million from her investment proceeds over a nine-year period, Warren County Prosecutor David P. Fornshell said in a press release.

Thayer was sentenced on Monday in Warren County Common Pleas Court to five years in prison for one count of securities fraud, five years for one count of aggravated theft and five years for one count of identity fraud, each to be served consecutively, Warren County Prosecutor David P. Fornshell said in a press release.

The former LPL advisor, who had been a registered representative of various brokers since 2010, was also ordered to pay a balance of $1,025,235.13 in restitution to the victim. He did business under the name of Broadway Financial Solutions, a Lebanon, Ohio-based tax preparation and investment advisory services business, Fornshell said.

The fraud and theft began in 2013, when Thayer opened a bank account in the victim’s name without her knowledge or consent. Thayer then allegedly began selling securities from the victim’s brokerage account and transferred the proceeds to the new bank account. He used the proceeds from those sales for his own personal expenses, including a down payment on his home, mortgage payments, car loans, credit card expenses, as well as the purchase of a tiny house in Colorado for a family member, the prosecutor said.

“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 investigated the case and referred it to our office for prosecution,” Fornshell said.

Thayer partially settled a parallel civil case filed by the Securities and Exchange Commission in the U.S. District Court for the Southern District of Ohio, Western Division, which accused Thayer of stealing from the client for nearly a decade from about November 2013 through August 2022.

The SEC said Thayer, without admitting or denying the allegations, consented to a partial settlement, in which he has agreed “to be permanently enjoined from future violations of the charged provisions and to pay monetary relief in an amount to be determined by the court.”

Thayer was fired by LPL in late 2022 and barred by the Financial Industry Regulatory Authority in February for failing to respond to its requests for information regarding the client complaint.