Published On: June 24, 2016

According to publicly available records published by the Financial Industry Regulatory Authority (FINRA), former Sagepoint Financial broker Timothy Dufresne was permanently barred from associating with firms that sell securities to the public. Allegedly, Dufresne, while associated with SagePoint, misrepresented material facts related to a variable annuity. He also converted at least $400,000 from customers by improperly obtaining distributions of funds from the customers’ variable annuities, depositing the funds in his business account, and using the funds for his own benefit. For this, he was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Timothy Dufresne was registered with Franklin Financial Services Corp in Houston, Texas from September 1999 until October 2002, American General Securities in West Bend, Wisconsin from October 2002 until October 2008 and SagePoint Financial in Bamberg, South Carolina from October 2008 until March 2016. He has two customer disputes against him, one of which is currently pending. He is not licensed within the industry and FINRA has permanently barred him.

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