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SEC Bars Robert Tricarico Following Sentencing

Robert Tricarico

Update on Former Financial Advisor Robert Tricarico

On April 10, 2017, the U.S. Securities & Exchange Commission barred Robert Tricarico from acting as a financial advisor following his October 2016 conviction for misappropriating $1.2 million from an elderly client.

Tricarico was convicted in October 2016 of defrauding the late Weston, CT resident Emily Anderson by stealing more than $1.2 million between 2010 and 2012, with the missing assets discovered by the managers of Anderson’s estate after her death in October 2013. He also allegedly admitted to defrauding two other victims of $20,000, according to court documents.

As we previously reported, Tricarico was sentenced last October to 41 months in prison and ordered to pay back full restitution to Anderson’s estate as well as $20,000 he borrowed from another elderly client that he used for his personal benefit.

According to his FINRA BrokerCheck, Tricarico was registered as a financial advisor with LPL Financial in Westport, CT from 05/2011 – 01/2015 and Wells Fargo in Westport, CT from 03/2009 – 05/2011.  His BrokerCheck report also indicates that he was the advisor of record on at least six customer complaints and a total of sixteen disclosures.

Failure to Supervise

Brokerage firms are required to adequately supervise their agents to ensure that they are complying with all the relevant securities laws and regulations.  If the firm fails to properly supervise its agent, the firm can be held responsible for any resulting losses in a FINRA arbitration claim.

If you invested with Robert Tricarico and would like a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.  The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group and its representation of investors, visit https://whitesecuritieslaw.com.


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