Pennsylvania Financial Advisor Accused of Stealing $180K From a 97 Year-Old Woman

David E.A. Seagren, 69, Franklin, PA, was arraigned April 14, 2014, on more than 50 felony charges. Seagren is accused of 22 counts of theft by deception and theft by unlawful taking, plus seven counts of forgery for the alleged theft of $183,786.86 from a 97-year-old woman’s checking accounts. This happened over three years while Seagren was the woman's financial advisor and insurance agent.

The woman told police that David Seagren has been her financial advisor for 30 years and she had never given Seagren permission to sign anything. She also told police that she never agreed to pay any money to Seagren.

According to the affidavit, on review of her banking records by detectives, they found that Seagren allegedly deposited into his own bank account checks from the woman’s two bank accounts totaling $51,786.86. Police allege these actions occurred between February 2011 and December 2013. Police allege that Seagren took $146,150 from one of the woman's checking account and $37,636.86 from another one of her checking accounts.

David Seagren was placed in the Crawford County Jail in Saegertown, PA. His preliminary hearing will be on April 28th.

According to FINRA's BrokerCheck, DAVID E. SEAGREN CRD# 1180218, was previously listed with the following firms:

FORTUNE FINANCIAL SERVICES, INC. (CRD# 42150) - RENO, PA
01/2006 - 01/2014

FINANCIAL NETWORK INVESTMENT CORPORATION (CRD# 13572) - RENO, PA
10/2005 - 12/2005

BLUE VASE SECURITIES, LLC (CRD# 46765) - RENO, PA
10/2001 - 10/2005

1717 CAPITAL MANAGEMENT COMPANY (CRD# 4082) - NEWARK, DE
11/1997 - 10/2001

PRUCO SECURITIES CORPORATION (CRD# 5685) - NEWARK, NJ
09/1984 - 12/1997

If you or an elderly family member have suffered an investment loss due to your stock broker or financial advisor’s advice, call Soreide Law Group to speak with an attorney at 888-760-6552. We represent clients nationwide before FINRA.