Former Ameriprise Financial broker Eric A. Dupre has been permanently barred from the securities industry after FINRA found he borrowed more than 2.2 million from clients — including a 77-year-old investor whose own margin account was used to fund the loans. Dupre accepted the sanctions without admitting or denying wrongdoing, but the damage to his clients was real: the largest loan remains unpaid, and a pending customer complaint is now seeking 3 million in damages. When a broker exploits the personal trust his clients placed in him to solve his own financial problems, the consequences can be devastating — and the law provides a path to accountability.
If you or someone you know lost money due to the actions of Eric Dupre or another advisor, our broker misconduct attorneys at Meyer Wilson Werning are ready to help. Contact us today for a free and confidential consultation — you pay nothing unless we recover for you.
How FINRA Found Eric Dupre Violated Industry Rules
FINRA’s investigation revealed that from September 2022 through February 2023, Eric Dupre (CRD#: 2174456) borrowed more than $2.1 million from a 77-year-old client. The client reportedly borrowed the funds on margin from his Ameriprise account, which left him with significant debt. Despite Dupre’s assurances that he would repay the money plus an additional return, FINRA determined he had no reasonable expectation of repayment given his financial distress at the time.
In addition, Dupre borrowed $65,000 from a married couple in September 2022, later repaying them in December 2022. Even though the amount was smaller, this transaction also lacked approval from Ameriprise and violated firm policy as well as FINRA Rule 3240, which prohibits borrowing from clients without written consent. FINRA also cited a breach of Rule 2010, requiring brokers to adhere to high ethical and professional standards.
To better understand the scope of Dupre’s violations, consider the key details below:
- Total borrowed: More than $2.2 million from three clients
- Largest loan: $2.1 million from a 77-year-old client, still unpaid
- Additional loan: $65,000 from a married couple, repaid after three months
- Firm approval: None obtained, violating Ameriprise and FINRA policies
- Rules breached: FINRA Rules 3240 (borrowing from clients) and 2010 (ethical standards)
These findings led FINRA to bar Dupre permanently from associating with any member firm in any capacity. He accepted the sanctions without admitting or denying wrongdoing.
By failing to maintain proper boundaries between personal and client finances, Dupre’s conduct reflects a breakdown in professional ethics that regulators seek to prevent.
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The Fallout: Dupre’s Termination and Customer Complaint
The misconduct didn’t just cost Dupre his license — it ended his career with Ameriprise. In December 2024, the firm terminated him for violating company policy on borrowing from clients, stating that he “circumvented controls” and acted “wholly inconsistent with its code of conduct and strict compliance standards.”
Following his termination, Dupre became the subject of a pending customer complaint filed in May 2024, seeking 3 million in damages. The complaint alleges that he misappropriated more than 2.6 million under false pretenses, claiming the funds would be invested in a cryptocurrency opportunity. The consequences of that alleged deception have been severe: a permanent bar from the securities industry, immediate termination from Ameriprise, and a multi-million dollar legal claim that remains unresolved. Cases like Dupre’s are a reminder that even long-tenured brokers can abuse the trust their clients place in them — and that the resulting financial harm can follow those clients for years.
The Importance of FINRA Sanctions in Investor Protection
FINRA sanctions play a critical role in holding brokers accountable when they fail to meet ethical and regulatory standards. Dupre’s case is a clear example of how these enforcement measures protect the public by ensuring that individuals who misuse investor funds are removed from the industry.
Through its enforcement authority, FINRA aims to:
- Protect investors by identifying and barring dishonest or reckless brokers
- Promote accountability within financial firms through internal compliance oversight
- Reinforce ethical standards that preserve investor confidence in regulated markets
While regulatory action is essential, it often comes after investors have already suffered harm. In those cases, victims may be entitled to pursue compensation through arbitration or other legal remedies. Investors who have lost money due to similar conduct should seek experienced legal representation to explore potential recovery avenues.
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How Meyer Wilson Werning Helps Victims of Broker Misconduct
When a broker borrows millions from a retired client and promises returns that never come, the financial damage doesn’t end with the loan. It follows investors into their retirement, their sense of security, and their trust in the people they relied on most. For the 77-year-old client still owed more than $2.1 million, that loss is very real — and it may be recoverable.
Meyer Wilson Werning has spent more than 25 years representing investors harmed by financial advisors who crossed the line — borrowing from clients, misusing funds, and abusing positions of trust. We’ve recovered more than $350 million for clients nationwide, and we take cases entirely on contingency: no fees unless we win. If your advisor borrowed money from you or misrepresented how your funds would be used, contact us today for a free and confidential consultation.
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Frequently Asked Questions
Why was former Ameriprise broker Eric Dupre barred by FINRA?
FINRA barred Eric A. Dupre for borrowing more than $2.2 million from clients without firm approval, violating FINRA Rules 3240 and 2010 governing ethical conduct.
How much did Eric Dupre allegedly borrow from clients?
Dupre borrowed over $2.2 million, including $2.1 million from a 77-year-old client and $65,000 from another couple. Most of these funds remain unpaid.
What rules did Eric Dupre violate?
FINRA found that Dupre violated Rule 3240, which prohibits borrowing from clients without written consent, and Rule 2010, which requires brokers to uphold professional integrity.
What happened to Dupre after the investigation?
He was permanently barred from the securities industry, terminated by Ameriprise Financial, and now faces a pending $3 million customer complaint alleging misappropriation and fraud.
What can investors do if their financial advisor borrowed money from them?
Investors can pursue recovery through FINRA arbitration or legal action. Meyer Wilson Werning helps clients recover losses caused by unethical or unauthorized financial advisor conduct.
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