Robert N. Tricarico, Wire Fraud, Connecticut 2016

A shocking case of financial exploitation has come to light in Connecticut, as former financial advisor Robert N. Tricarico, 60, of Milford, pleaded guilty to wire fraud in federal court yesterday.

According to court documents and statements made in court, Tricarico misappropriated more than $1.2 million from an elderly and infirm victim who had substantial assets. The crime occurred between January 2010 to June 2013, during which time Tricarico wrote 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. The stolen funds were used to make personal expenditures.

In addition to the initial victim, Tricarico 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.

As part of his plea, Tricarico has agreed to pay restitution in the amount of $1,220,763.90 to the victims of his crime.

Tricarico is scheduled to be sentenced by U.S. District Judge Michael P. Shea on September 20, 2016, at which time he faces a maximum term of imprisonment of 20 years.

This matter is being investigated by the Federal Bureau of Investigation and Greenwich Police Department, and prosecuted by Assistant U.S. Attorney David T. Huang.

In light of this shocking case, it is essential for individuals to be cautious and vigilant when entrusting their finances to advisors or brokers. It is crucial to conduct thorough research and due diligence before making any financial decisions.

The Grimy Times will continue to monitor this case and provide updates on the sentencing and any other relevant developments.

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