Barrington's Patrick Churchville is facing a slew of fraud charges filed by the Securities and Exchange Commission.

SEC officials allege that Mr. Churchville and his investment company, ClearPath Wealth Management, LLC, operated a fraudulent investment scheme that resulted in at least $11 million in losses for investors. SEC officials also allege that Mr. Churchville used investors' money to purchase his waterfront home on Nayatt Road.

According to the complaint filed on May 8 by the SEC, Mr. Churchville and his company "diverted deposits from new investors to pay prior investors, used proceeds from selling particular investments to pay unrelated investors, used investors' funds as collateral for loans to make investments for their own benefit, used other investors' money to repay the loans, converted investor funds into investments for ClearPath's own benefit, and stole $2.5 million of investor funds to purchase Churchville's waterfront home in Barrington."

SEC officials allege in their 37-page civil lawsuit that the fraud could be traced back to at least Dec. 2010 and continued for years. The commission also charges that Mr. Churchville and his company lied to investors about the status, worth and distributions of their investments.

"ClearPath and Churchville allegedly misappropriated and misused investors' cash and assets through a years-long scheme that lulled investors into believing that their assets were safe," stated the SEC complaint.

"The SEC seeks to require ClearPath and Churchville to return their allegedly ill-gotten gains with interest and to pay civil monetary penalties. The SEC also seeks preliminary and permanent injunctions against both defendants…"

Phone calls and emails to Mr. Churchville and to ClearPath's office located inside the building at 310 Maple Ave. were not returned.

Mr. Churchville's home at 121 Nayatt Road is currently listed for sale for $2,799,000.

According to the ClearPath Wealth Management, LLC website, Mr. Churchville has more than 17 years of experience as a professional advisor, and "brings to the group a natural affinity for organization, structure and process- which he finds quite valuable while guiding clients through the complex and intangible world of asset management.

"During his career he has come to realize how human nature- specifically emotion- can undermine the principals of long-term investing. He believes one of his strengths is his ability to help clients manage their emotions during short term volatility and remain focused on their long-term goals. He is acutely aware of the responsibility in the highest regard and believes it to be the most rewarding aspect of his work."

According to a WPRI news report, Mr. Churchville twice donated $1,000 to Rhode Island Governor Gina Raimondo — once during her run for treasurer and once during her run for governor. The treasurer for Ms. Raimondo's campaign reportedly said that if Mr. Churchville is found guilty, the governor would donate the Barrington man's donations to a charity.