Additional charges have been added against a Raleigh investment advisor who already faces fraud charges, according to a report from the Department of Justice.

Stephen Condon Peters, 45, received four additional charges including aggravated identify theft, conspiracy to make false statements and documents, making and using false statements and documents and concealing documents during a Securities and Exchange Commission examination.

The indictment also includes that additional assets be forfeited upon conviction.

The indictment alleges that beginning in 2009 and continuing into 2017, Peters sold promissory notes from VisionQuest Capital LLC in exchange for investor funds and an annual return of 8 percent or 9 percent over five years.

Instead, however, prosecutors say he stole large portions of the investor proceeds and carried out a Ponzi scheme.

The new charges of the superseding indictment say that Peters, both directly and through his staff, forged, fabricated and concealed documents and records in an effort to throw off an examination by the SEC in late 2016.

Peters allegedly forged and backdated a letter to his former compliance officer purporting to place the burden of disclosing his conflicts of interest upon the officer. He further fabricated other records given to examinations such as client balance sheets and wealth management contracts.

No court date has been scheduled for Peters in regard to the new charges. He is currently set to be arraigned in December 2018.

In addition to penalties for his previous charges, he faces imprisonment. He also faces up to $1 million in additional fines and forfeiture of property.

According to the VisionQuest Wealth Management website, Peters is the company founder and CEO. He created VisionQuest to focus on providing “high-quality advice and attentive service rather than simply selling products.”

WRAL reported in April that pending his trial, Peters has been barred from contacting any VisionQuest investors other than his father. He was also ordered not to leave North Carolina and had to surrender his passport.