{"id":4287,"date":"2017-04-17T19:28:38","date_gmt":"2017-04-18T00:28:38","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4287"},"modified":"2022-03-11T13:40:34","modified_gmt":"2022-03-11T19:40:34","slug":"securities-fraud-ex-broker-gets-prison-sentence-1-2m-elder-financial-fraud-massachusetts-man-admits-bilking-neighbors-two-dozen-27-parties-fire-alleged-stock-prom","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-ex-broker-gets-prison-sentence-1-2m-elder-financial-fraud-massachusetts-man-admits-bilking-neighbors-two-dozen-27-parties-fire-alleged-stock-prom\/","title":{"rendered":"Securities Fraud: Ex-Broker Gets Prison Sentence for $1.2M Elder Financial Fraud, Massachusetts Man Admits to Bilking Neighbors, &#038; More Than Two Dozen 27 Parties Under Fire Over Alleged Stock Promotion Scams"},"content":{"rendered":"<p>\t\t\t\t<strong>Former Wells Fargo and LPL Financial Broker Receives 41-Month Prison Term for Elder Financial Fraud<\/strong><br \/>\nRobert N. Tricarico, an ex-broker for both Wells Fargo Advisors (WFC) and LPL Financial (LPLA), will serve 41 months behind bars and pay restitution of over $1.2M after he pleaded guilty to elder financial fraud. The Securities and Exchange Commission, which brought a civil case against Tricarico, has barred him from the securities industry.<\/p>\n<p>Court documents note that from 1\/2010 to 6\/2013, Tricarico was the financial adviser for a sick and elderly investor.  He misappropriated over $1.1M from her by writing a number of checks to himself without the client\u2019s consent, misappropriated checks written to her,  liquidated her coin collection, and used her funds for his own expenses.  <\/p>\n<p>He has also admitted to bilking two other victims of $20K when he falsely represented that their money would go toward a business venture. He kept their money for himself.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-ex-broker-gets-prison-sentence-1-2m-elder-financial-fraud-massachusetts-man-admits-bilking-neighbors-two-dozen-27-parties-fire-alleged-stock-prom\/#more-4287\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Wells Fargo and LPL Financial Broker Receives 41-Month Prison Term for Elder Financial Fraud Robert N. Tricarico, an ex-broker for both Wells Fargo Advisors (WFC) and LPL Financial (LPLA), will serve 41 months behind bars and pay restitution of over $1.2M after he pleaded guilty to elder financial fraud. The Securities and Exchange Commission, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748,3877,3792,3801,3760,3741,3803,3836],"tags":[2787],"class_list":["post-4287","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","category-lpl-financial","category-ponzi-scams","category-sec","category-sec-enforcement","category-securities-fraud","category-senior-investors","category-wells-fargo","tag-eubiquity-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud: Ex-Broker Gets Prison Sentence for $1.2M Elder Financial Fraud, Massachusetts Man Admits to Bilking Neighbors, &amp; More Than Two Dozen 27 Parties Under Fire Over Alleged Stock Promotion Scams &#8212; Investor Lawyers Blog &#8212; April 17, 2017<\/title>\n<meta name=\"description\" content=\"Former Wells Fargo and LPL Financial Broker Receives 41-Month Prison Term for Elder Financial Fraud Robert N. 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Tricarico, an ex-broker for both Wells Fargo &#8212; April 17, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Fraud: Ex-Broker Gets Prison Sentence for $1.2M Elder Financial Fraud, Massachusetts Man Admits to Bilking Neighbors, & More Than Two Dozen 27 Parties Under Fire Over Alleged Stock Promotion Scams &#8212; Investor Lawyers Blog &#8212; April 17, 2017","description":"Former Wells Fargo and LPL Financial Broker Receives 41-Month Prison Term for Elder Financial Fraud Robert N. 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