The Massachusetts Securities Division Enforcement Section (“the Division”) filed a complaint against broker Thomas T. Riquier on February 14, 2018 for violating the Massachusetts Uniform Securities Act. According to the Division, Riquier created a complex investment fraud scheme involving real property and client loans that defrauded his investors out of over $1 million.
Riquier has been a broker with United Planners’ Financial Services of America for the last 26 years. According to the Division, Riquier lured investors in by telling them that the property they were investing in would be sold for a substantial profit. He targeted mainly elderly clients and investors in his scheme, many of whom have died. Those who remain have never seen any return on their investments.
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$350 Million for Our Clients Nationwide.
In addition, United Planners’ Financial Services of America is also named as a respondent in the complaint for failing to adequately supervise Riquier. United Planners reportedly missed numerous red flags regarding Riquier’s conduct and never undertook a reasonable review of his outside business activities.
The Division is seeking several legal actions against Riquier, including a revocation of Riquier’s broker registration in the state of Massachusetts.
Were You Defrauded While Working with Thomas T. Riquier?
Meyer Wilson is dedicated to investigating brokers like Riquier so that fewer people fall victim to deceit and investment fraud. If you suspect that you may have suffered financial losses while working with Thomas Riquier, our investment loss attorneys would like to speak with you.
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Recovering Losses Caused by Investment Misconduct.