SAN ANTONIO, TX — A former San Antonio-based financial adviser who was barred from the profession earlier this year is now facing criminal charges for allegedly stealing more than $2.19 million from an elderly client.
Eric Dupre, 56, faces five felony counts stemming from his alleged theft of funds belonging to a man identified as Albert Vale between September 2022 and February 2023. Dupre’s charges include:
Two counts of theft
Two counts of misappropriation of funds
One count of financial abuse of the elderly
According to court documents, Dupre borrowed the money from Vale under the promise of repayment with additional interest, despite having no reasonable expectation of repayment due to his financial difficulties.
Dupre was previously employed as a financial adviser with Ameriprise Financial Services LLC but was terminated in December 2023 for violating company policy related to borrowing from clients. In July 2024, the Financial Industry Regulatory Authority (FINRA) barred Dupre from the industry over unauthorized loans and client theft.
Earlier this month, arbitration proceedings awarded Dupre’s alleged victim $1.1 million in compensatory damages, citing investments in unsuitable financial products with no real growth potential.
Dupre was released on a $100,000 bond and is scheduled to appear in court for a hearing on January 26, 2025.
Records also show Dupre had sought Chapter 13 bankruptcy in October 2024, listing liabilities between $1 million and $10 million, but voluntarily dismissed the case the following month.
