GREENWICH, Conn. (WTNH) – A Milford financial advisor has pleaded guilty to fraud and stealing more than $1.2 million from a client.
According to Deirdre M. Daly, United States Attorney for Connecticut, Robert N. Tricarico, 60, of Milford pleaded guilty June 16th in Hartford federal court to one count of wire fraud.
Daly says that Tricarico was a registered securities broker and was associated with various financial firms. According to court documents and statements made in court, Tricarico acted as a financial advisor for and elderly and infirm who had substantial assets. Tricarico misappropriated more than $1.1 million from the victim by writing numerous checks to both to himself and for his benefit. He also admits to defrauding two other victims of $20,000.
As part of his plea, Tricarico will pay restitution to the victims of his crime and will face 20 years in prison.