Galvin accuses man of investment fraud

BOSTON (AP) - Massachusetts' top securities regulator has accused a Wilbraham investment adviser of fraud for allegedly using more than $3 million in client money on personal expenses, including a down payment on a $30 million beachfront property.

Secretary of State William Galvin alleges in an administrative complaint filed Thursday that Sean Edward Mansfield transferred money from 13 client brokerage accounts using forged signatures.

The alleged scheme was uncovered in February by the 36-year-old Mansfield's employer, Financial Counselors LLC of West Springfield.

Galvin seeks the return of the money to investors, a permanent revocation of Mansfield's registration as an investment adviser, and a fine.

Mansfield has an unlisted home phone number.