Thomas Riquier Allegedly Orchestrated a 26-Year Investment Scheme which Purportedly Defrauded over 30 Investors out of Over $1 Million

Thomas Riquier allegedly orchestrated a 26-year investment scheme which defrauded over 30 investors out of funds of well over $1 million, according to Reports from Massachusetts.

Thomas Riquier, in 1990 and 1991, allegedly made solicitations of funds from said investors for a fund which invested in property in Rowley, Massachusetts, yet allegedly failed to disclose that he already owned the property via a trust, according to the office of the Secretary of the Massachusetts Securities Division of the Commonwealth, William Galvin.

Investor rights attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Thomas Riquier’s alleged investment fraud. Investors who believe they may have lost money in activity related to Thomas Riquier’s alleged investment fraud are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Thomas Riquier Managed 400 Clients & Brought in over $1.2 Million for United Planners; Riquier Barred by the Massachusetts Securities Division

Thomas Riquier allegedly managed 400 clients for United Planners and took in over $1.2 million during the course of the aforementioned alleged scheme, FINRA notes. Riquier then resigned in March 2018 following allegations of borrowing funds from a client, his BrokerCheck profile reports.

Said investors allegedly gave a total of $730,000, Reports from Massachusetts report. Riquier allegedly kept all of the funds, the Reports state. Riquier also allegedly made solicitations of over $800,000 in private loans from his clients, in violation of state and federal laws, the Reports note.

The Massachusetts Securities Division subsequently barred Riquier for allegedly soliciting outside investments from brokerage and advisory customers pursuant to a private placement, FINRA reports. Riquier must also pay a fine of $50,000 to repay his victims, FINRA reports.

Thomas Riquier has worked for the following firms:

  • United Planners’ Financial Services of America A Limited Partners, Danvers, MA— April 20, 1992 to April 2, 2018
  • New England Securities, New York, NY— September 6, 1994 to November 26, 2001
  • Main Street Management Company, Boston, MA— September 11, 1985 to March 27, 1991

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Thomas Riquier’s alleged investment fraud. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Thomas Riquier’s alleged investment fraud may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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