Massachusetts Broker, Thomas T. Riquier, Charged in Real Estate Scheme

THOMAS TIRRELL RIQUIER CRD#: 400088, a financial advisor from Gloucester, Massachusetts, was charged April 14, 2018, with violating the Massachusetts Uniform Securities Act by Secretary of the Commonwealth. His employer, United Planners Financial Services of America, is charged with failure to supervise its agent.
Thomas T. Riquier has been accused of a real estate scheme that defrauded investors and other clients out of at least $1 million over the past 26 years. Thomas T. Riquier is president and an agent of The Retirement Financial Center in Danvers, Massachusetts.
The complaint filed alleges that Riquier solicited money from clients and used the money to purchase property in Rowley, which investors were told would then be sold for a profit. In fact, the money was used to purchase property owned by Riquier. According to the complaint, the property has not yet been sold, improved, nor provided any returns on the money invested. Also, according to the complaint Thomas T. Riquier solicited more than $800,000 in private loans from his clients, violating state and federal law.
United Planners Financial Services of America, Riquiers employer for 26 years, also named in the complaint, employed Riquier’s son-in-law to supervise him, and he allegedly failed to appropriately monitor his actions.
The complaint is seeking a cease and desist order, censure, and administrative fine. They are also seeking the revocation of Thomas T. Riquier’s registrations as an investment advisor agent and broker/dealer in Massachusetts and restitution to compensate investors for their losses under the alleged scheme.
According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, Thomas T. Riquier has 6 Disclosures on his report, 5 are listed as ‘Customer Disputes.’ Riquier has been in the securities industry for 44 years and was listed with 5 firms.
Thomas T. Riquier is currently listed since 4/20/1992, with the following firm:
UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER
10 LIBERTY STREET STE 316
DANVERS, MA 01923
If you experienced losses due to the recommendations or actions of Thomas T. Riquier of UNITED PLANNERS' FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER, Danvers, MA, call Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA. We operate on a contingency fee basis, no fee if no recovery. Let our years of experience work for you.