An investment adviser in Scarborough has accepted a plea agreement in a case in which he was accused of giving misleading investment advice to a client and stealing $5,000 worth of coins from her collection, state officials said.

According to the Office of Professional & Financial Regulation, Thomas E. Skypeck pleaded guilty Friday in York County Superior Court to securities fraud, forgery, theft by unauthorized taking or transfer, and misuse of entrusted property in relation to his handling of a client’s insurance and investment accounts. Skypeck’s sentencing has been deferred to allow him to comply with the terms of the agreement, including paying $5,070 in restitution. His license to practice also was revoked.

Officials said Skypeck provided the client, whose name was not released. with misleading information about her annuity contracts in an effort to get her to exchange her old policies for new ones. She relied on his recommendations, which caused her to incur unnecessary penalties and restricted her access to her money, they said. With each new purchase, Skypeck earned a commission.

He also instructed the client to withdraw about $60,000 from one of her annuities, which he then used to purchase silver coins on her behalf, officials said. He completed the transaction using his wife’s name and forged his wife’s signature on the relevant documentation. He received a commission for the coin sales, as well as selling $5,000 worth of the client’s coins without her knowledge and keeping the money for himself, state officials said.


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