Gary A. Kieper, a former advisor with Thrivent, has been barred by the Financial Industry Regulatory Authority a few weeks after he was arrested on charges of embezzling from the Wisconsin town where he acted as treasurer.

The Finra letter, filed earlier this month, outlined no details of the case except to say that on December 12, 2022, Thrivent filed a termination form saying Kieper had voluntarily ended his association with the firm. On April 19, 2024, Thrivent amended the form saying that Kieper had been charged with felony theft and misconduct related to events that took place while he was a Thrivent advisor but unrelated to his employment with the firm.

"Thrivent understands and values the trust our clients put in us. We're aware of the charges filed against Mr. Kieper," a Thrivent spokesperson said. "We take these matters seriously and investigate any claims of wrongdoing that could impact Thrivent clients."

According to the court records for Langlade County, Wis., home to Antigo, where Kieper lives, nine felony charges against him were levied in a complaint filed on March 20, 2024. Kieper also faces one misdemeanor charge of operating a firearm while intoxicated, filed March 21, 2024.

Those charges include four thefts from a business setting in amounts ranging from “>$10,000” to “>$100,000.” There were also three charges of office misconduct of excess authority, and two charges of office misconduct involving record-keeping fraud, according to the Wisconsin Circuit Court Access website.  

A copy of the original complaint was not available by the time this story was filed. However, according to local news sources, Kieper was accused of stealing $300,000 from the town of Ackley and Langlade County Rural Fire Control.

On March 21, Langlade County Sheriff Mark Westen was reported as saying an investigation into accusations against Kieper began in November 2023, but Westen did not return a call for more information by the time this story was filed.

According to local Channel 7, Kieper’s alleged activities came to light when investigators received a complaint from another Ackley board member that Kieper was mishandling town funds. According to the local report, Kieper, as treasurer, had access to town funds and was the only person authorized to sign checks for the town.

Kieper was publicly accused of the theft during a November 27, 2023, board meeting, at which point he immediately resigned while blaming the board for not subjecting him to enough oversight, Channel 7 reported. He had served on the board for 27 years, the last 25 of which he was treasurer.

A second accusation of mishandling money came from Langlade Country Rural Fire Control.

Through the investigation, sheriff’s detectives claim more than $300,000 was transferred from Ackley and Rural Fire Control accounts into several accounts owned by Kieper. The alleged theft took place from 2013 to 2023, Channel 7 reported.

In a second case related to his arrest, Kieper was also charged with firearm possession while drunk. According to the Antigo Daily Journal, Kieper had been notified of his impending arrest and was asked to turn himself in. He allegedly refused and was found “heavily intoxicated and carrying a loaded firearm in his backyard by law enforcement roughly two hours later,” the reporter said.

According to local reports, Kieper had been a successful financial advisor before resigning from the firm. In February 2015, two years after the alleged embezzlement began, the Antigo Times ran a story on Thrivent honoring Kieper for outstanding performance that landed him in the top 20% of performers at the firm he had worked at since 2000.

The court records of March 21 stated that the terms of Kieper’s $500,000 cash bond included stipulations he would maintain absolute sobriety, not possess or use of any alcoholic beverages; not enter any establishments with a Class B liquor license; not use or possess dangerous weapons; not leave the state of Wisconsin; surrender any passport to the Langlade County Sherriff’s Office and not apply for any new passports; and not use or possess any money or currency owned by anyone else.

On April 5, Kieper’s cash bond was reduced to $250,000, and on May 16 the next pre-trial status hearing was set for July 26.