Thomas T. Riquier Accused of Real Estate Fraud Scheme

Thomas T. Riquier

United Planners Financial Services of America Charged with Failure to Supervise

Have you suffered losses investing with Thomas T. Riquier and United Planners Financial Services of America? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.

According to reports, Financial Advisor Thomas T. Riquier has been accused of defrauding investors in a complex real estate fraud scheme. Riquier allegedly took more than $1 million from investors over a 26 year span, according to various reports.

President of The Retirement Financial Center, Riquier was charged on February 14 with violating the Massachusetts Uniform Securities Act by Secretary of the Commonwealth William F. Galvin. United Planners Financial Services of America, his registered employer, is reportedly charged with failure to supervise its agent.

Riquier allegedly solicited money from clients and others, a majority of whom are elderly, and used it to purchase property, which investors were told would then be sold for a profit, according to the complaint filed by the Massachusetts Securities Division.

According to the complaint, in reality, the investments were allegedly used to purchase property already owned by Riquier. The complaint further states that the property has not been sold, has not been improved, and has not provided any returns on the money invested.

Riquier purportedly solicited more than $800,000 in private loans from his clients, in violation of state and federal law, according to the Massachusetts Securities Division.

According to his FINRA BrokerCheck report, Riquier has been registered with United Planners since 1992. He has five customer disputes listed on his broker report since 2008. Allegations include churning and failure to place trades in a timely manner, among others.

The state is seeking an order requiring Riquier to pay restitution to compensate investors for their losses under the scheme. It also reportedly seeks a cease and desist order, censure, and administrative fine, and the revocation of Riquier’s registrations as an investment advisor agent and broker-dealer in Massachusetts.

Recovery of Investment Losses – Thomas T. Riquier

The White Law Group is investigating Potential claims involving Thomas T. Riquier and United Planners Financial Services of America.

When brokers break laws or violate FINRA Rules, the firm they work for can be held liable for failure to supervise and responsible for investment losses. Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest.

If you are concerned about your investments with Thomas T. Riquier the securities attorneys at The White Law Group may be able to help you recover your losses. For a free evaluation with a securities attorney, please call the firm’s offices at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. For more information about The White Law Group, visit www.WhiteSecuritesLaw.com.

 

 

 

 

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