31°
Until April 2015, Robert N. Tricarico, 60, was a registered securities broker with the Financial Industry Regulatory Authority.
He was also formerly employed or associated with various financial firms, including RNT Wealth Management, Northstar Wealth Partners, LPL Financial and Wells Fargo Advisors Financial Network.
According to court documents and statements made in court, from January 2010 to June 2013, Tricarico, who currently lives in Milford, acted as a financial adviser for an elderly and infirm victim who had substantial assets.
Tricarico misappropriated more than $1.1 million from the victim by writing numerous checks to himself or for his benefit without the victim’s authorization, prosecutors said.
He also liquidated a coin collection belonging to the victim and misappropriated checks made payable to the victim, using the stolen funds to make personal expenditures, according to officials.
In pleading guilty, Tricarico also admitted that he defrauded two additional victims of $20,000 by falsely representing to them that he would use their investments for a business venture and guaranteed a rate of return.
Tricarico used the victims’ funds for his own personal use, prosecutors said.
As part of his plea, Tricarico has agreed to pay over $1.2 million in restitution to the victims.
He faces a maximum of 20 years in prison when sentenced by U.S. District Judge Michael P. Shea on Sept. 20.
The case was investigated by the FBI and Greenwich Police Department, and prosecuted by Assistant U.S. Attorney David T. Huang.
Click here to follow Daily Voice Darien and receive free news updates.
