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Justice News

Department of Justice
U.S. Attorney’s Office
District of Connecticut

FOR IMMEDIATE RELEASE
Wednesday, October 5, 2016

Former Financial Advisor Sentenced to 41 Months in Federal Prison for Stealing More Than $1.2 Million

Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that ROBERT N. TRICARICO, 60, formerly of Darien, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 41 months of imprisonment, followed by three years of supervised release, for stealing for than $1.2 million from an elderly client.

Until April 2015, TRICARICO was a registered securities broker with the Financial Industry Regulatory Authority.  He was 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 acted as a financial advisor 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.  TRICARICO also liquidated a coin collection belonging to the victim, and he misappropriated checks made payable to the victim.  TRICARICO used the stolen funds to make personal expenditures.

TRICARICO also 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.  In fact, TRICARICO used the victims’ funds for his own personal use.

Judge Shea ordered TRICARICO to pay restitution in the amount of $1,220,763.90.

On June 16, 2016, TRICARICO pleaded guilty to one count of wire fraud.

At the conclusion of today’s sentencing, TRICARICO, who had been released on bond, was remanded to the custody of the U.S. Marshals Service to begin serving his sentence.

This matter was investigated by the Federal Bureau of Investigation with the assistance of the Greenwich Police Department and Connecticut Department of Banking.  The case was prosecuted by Assistant U.S. Attorney David T. Huang.

Topic: 
Securities, Commodities, & Investment Fraud
Updated October 5, 2016