Former LPL broker sentenced to 3 1/2 years in prison for robbing elderly, infirmed client

A federal court in Hartford, Conn., has found a former broker guilty of stealing $1.2 million from a client and sentenced him to prison for 41 months and ordered him to pay restitution. Robert N. Tricarico, 60, who began his career as an adviser in 1992 with a 10-year stint at Merrill Lynch, was most recently with LPL, where he spent three years before being banned from the industry by Finra in April 2015. According to court documents and statements made in court, from January 2010 to June 2013, Mr. Tricarico acted as a financial adviser for an elderly and infirmed victim who had substantial assets, according to a report in the Westport (Conn.) Patch. Mr. Tricarico misappropriated more than $1.1 million from the victim by writing several checks to himself or for his benefit without the victim's authorization, according to the Securities and Exchange Commission, which also has banned him from the securities industry. Mr. Tricarico also liquidated the victim's coin collection and misappropriated checks made payable to the victim, using the stolen funds to make personal expenditures. In is guilty plea, Mr. Tricarico also admitted that he defrauded two additional victims of $20,000 by falsely representing to them that he would use their investments for a business venture and guaranteed a rate of return. Instead, he kept the money.