Thomas T. Riquier Allegedly Operated an Intricate Real Estate Scheme which Purportedly Defrauded Investors of over $1 Million over 26 Years

Thomas Riquier, of Gloucester, Massachusetts, allegedly operated an intricate real estate scheme that purportedly defrauded investors and other clients out of more than $1 million over the past 26 years, according to an administrative complaint filed by Massachusetts Secretary of State William Galvin’s Securities Division under review by attorney Alan Rosca.

RoscaLaw attorney Alan Rosca is investigating Thomas Riquier’s alleged real estate scheme.

Investors who believe they may have lost money in activity related to Thomas Riquier’s alleged real estate scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Thomas Riquier, president and an investment adviser agent of The Retirement Financial Center in Danvers, Massachusetts, was reportedly charged by Galvin with alleged violation of the Massachusetts Uniform Securities Act, according to the aforementioned Complaint.

What is more, United Planners Financial Services of America, Riquier’s employer, has also been charged with failure to supervise its agent, the Complaint states.

Riquier Allegedly Solicited $835,000 in Private Loans from Clients, Mostly North Shore Residents; Riquier Allegedly  Violated State and Federal Law

Riquier allegedly solicited $835,000 in private loans from his clients—  mostly North Shore residents, in purported violation of state and federal law, according to the aforementioned Complaint under review by attorney Alan Rosca.

Riquier allegedly made solicitations of money from clients and their family members, many of whom were elderly North Shore residents, and purportedly used said cash to   seemingly purchase property in Rowley, Massachusetts, which investors were purportedly told would later be sold at a profit, the Complaint notes.

The investments, in reality, were allegedly implemented to buy property which was already under the ownership of Riquier, the Complaint reports.

To this date, said property has allegedly not been sold, nor has it been improved, and has purportedly not provided any returns on the money invested, according to the Complaint.

Finally, the Complaint states that Riquier’s alleged scheme has been in operation for so long that many of the original investors and clients have died while the remaining elderly Massachusetts investors have not seen any return on investment, the Complaint notes.

Securities Lawyers Investigating

The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Thomas Riquier’s alleged real estate scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Thomas Riquier’s alleged real estate scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530 or via e-mail at arosca@roscalaw.com, or through the contact form on this webpage.

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