Robert N. Tricarico was recently accused by FINRA of failing to provide
documents and information requested in connection with its investigation
earlier this year. Tricarico was a broker at
LPL Financial from May 2011 to December 2014. LPL fired Tricarico on December 16, 2014
following allegations that Tricarico misappropriated client funds.
FINRA Report reflects that he had several financial disclosures prior to this alleged
misconduct. He reported to FINRA that he filed Chapter 7 Bankruptcy in
2010 and had IRS and credit card liens in 2009 and 2013. Disclosures like
these are red flags that should cause any firm to supervise their broker
There is a high correlation between brokers with financial difficulties
and those who engage in illegal sales activities,
Ponzi schemes, or theft. Brokerage firms must be aware of their representatives’
financial problems and take affirmative steps to detect and deter illegal
conduct. If they do not take reasonable steps, they can be held liable
to victims who lose money as a result of the misconduct.
If you or someone you know lost money and you believe those losses were
caused by investment fraud or misconduct, we invite you to contact a securities
fraud lawyer at Meyer Wilson today for a
free review of your case.