MA Investment Adviser Accused of $1M Real Estate Scheme
The Massachusetts Securities Division has accused a Massachusetts investment adviser of defrauding his mostly elderly clients out of more than $1 million over a 26 year period.
Thomas T. Riquier and United Planners’ Financial Services of America are charged with misconduct related to the scheme.
According to the Complaint, Thomas T. Riquier, an investment adviser with United Planners’ Financial Services of America, began his scheme in the 1990s by coercing his mostly elderly clients into investing into a private investment fund purportedly created to purchase property that would eventually be sold for a profit. Investor money, however, was actually used to purchase property Riquier already owned and never sold. In fact, investors never received any returns on their investments.
The Massachusetts Securities Division also alleged that United Planners’ Financial Services of America failed to adequately supervise Riquier, allowing him to continue to take advantage of his clients for more than two decades.
If you have suffered significant financial losses from investing in the scheme operated by Thomas Riquier—or one like it—the lawyers of the Business Trial Group may be able to help. With the support of the largest Plaintiff’s law firm in the country, our clients pay no upfront fees or retainers, and we only receive a fee if we successfully recover compensation on your behalf.
For a no cost and no obligation review of your investment losses, please call us at (877) 599 3102 or fill out our case review form.