ARE YOU AT RISK FOR FINANCIAL LOSSES?
Some seniors you suspect may be at risk -
Seniors who suffer from:
Dementia & Alzheimer's
Resident of Full-time Care Facility
Receving Elder Care - Family Member or Outside Caregiver
Some seniors at risk that you may not suspect -
Seniors who are:
MS. STONEMAN OFFERS FREE CASE EVALUATION FOR SENIORS!
(use our personalized form to contact Ms. Stoneman regarding your situation)
Attention Seniors: An important message from Ms. Stoneman -
"Many states have elder abuse statutes that are designed to protect seniors from a variety of fraud, including financial fraud. However, if your state does not have such a statute, do not despair as there are numerous other laws that can assist seniors in recovering their money. FINRA even has a rule that provides for expedited arbitrations for seniors or seriously ill parties."
Tracy Pride Stoneman: Securities Arbitration Attorney
"It seems that the rising and existing senior population is continuously the focus of the unscrupulous. Ms. Stoneman untangled the complex misrepresentations and wrongdoings in representing the Tylers, recovering their losses. The large settlement award against Raymond James put unscrupulous broker-dealers and those who fail to supervise on notice that someone is watching out for the elderly!" (Name withheld by request)
THE EMOTIONAL IMPACT OF BEING THE VICTIM OF FINANCIAL FRAUD -
Being victimized by financial fraud is a personal violation and carries with it helpless feelings and a level of humiliation that you may never overcome. Much like rape, it is often perpetrated by a family member, trusted family financial advisor, or long-time friend. Today’s financial scam artist may be highly educated, socially active, shops at the same stores you do, belongs to the same clubs, and attends the same Church. They are well-liked. Remember, above all, it isn’t your fault that you were victimized.
Tracy Pride Stoneman: Securities Arbitration Attorney
- The financial well-being of our country's seniors is my concern!
DOMESTIC RAIDING –
ONE FAMILY'S DIRTY SECRECT, REVEALED
If you think being the victim of Broker or Brokerage fraud is bad, imagine the terrible emotional crush at being the victim of home-grown family financial fraud. Your own flesh and blood is raiding your funds, . . .
Does this sound familiar, an elderly family member can no longer live without full-time senior care. It will cost too much to hire a full-time caregiver so to her rescue comes a loving granddaughter who is attending community college (she offers to move in and take care of grandma) Your prayers have been answered! Or have they?
If you are a senior citizen, disabled, or on a fixed income and are unable to recover your financial losses you may face additional trauma through the loss of financial stability or independence. Give Tracy Stoneman of Stoneman Law a call and discuss your situation. Tracy is a securities law attorney with more than 24 years specializing in loss recovery for investors and has recovered millions in restitution - (719) 783-0303.
Former Financial Advisor and Securities Broker Admits Stealing More Than $1.2 Million from AN ELDERLY CLIENT -
Deirdre M. Daly, United States Attorney for the District of Connecticut, today announced that ROBERT N. TRICARICO, 60, of Milford and formerly of Darien, waived his right to indictment and pleaded guilty yesterday in Hartford federal court to one count of wire fraud related to his misappropriation of more than $1.2 million from an elderly client.
Until April 2015, TRICARICO was a registered securities broker with the Financial Industry Regulatory Authority. He was formerly employed or associated with various financial firms, including RNT Wealth Management, Northstar Wealth Partners, LPL Financial, and Wells Fargo Advisors Financial Network.
According to court documents and statements made in court, from January 2010 to June 2013, TRICARICO acted as a financial advisor for an elderly and infirm victim who had substantial assets. TRICARICO misappropriated more than $1.1 million from the victim by writing numerous checks to himself or for his benefit without the victim’s authorization. TRICARICO also liquidated a coin collection belonging to the victim, and he misappropriated checks made payable to the victim. TRICARICO used the stolen funds to make personal expenditures.
In pleading guilty, 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. In fact, TRICARICO used the victims’ funds for his own personal use.
As part of his plea, TRICARICO has agreed to pay restitution in the amount of $1,220,763.90 to the victims of his crime.
Click image to go to FINRA's Senior's Page!
FINRA, "The protection of our senior investors, as well as baby boomers who are retired or approaching retirement is a top-priority."
Financial abuse of the elderly can occur in many forms, including theft, misrepresentations of risky, high-commission securities, and churning.
FINRA Kicks Broker Out of Industry for Stealing from Elderly Client -
FINRA has barred a Wells Fargo Advisors stockbroker from the securities industry for stealing money from an elderly client. FINRA alleged that broker Jeffrey C. McClure, who worked from a Wells Fargo office in Chico, California, used his elderly client’s blank checks to steal almost $89,000 from the client’s bank account between December 2012 and August 2014. The client had given McClure access to the checks to pay some of the client’s own bills. Stealing from a client, especially an elderly client, is among the most heinous forms of stockbroker misconduct.
While Wells Fargo repaid the client, many elderly investors do not have someone independently overseeing their business dealings with a broker. And because the elderly are among the most vulnerable of investors, there may be many instances where a broker’s theft from customer accounts goes unnoticed. Importantly, FINRA and state securities regulators has stated that policing elder financial abuse as among its priorities this coming year.
Financial abuse of the elderly can occur in many forms, including theft, misrepresentations of risky, high-commission securities, and churning. If you or a loved one has been abused by a stockbroker, contact
If you or a loved one has been abused by a stockbroker, contact Ms. Stoneman a FINRA arbitration attorney for a free consultation (719) 783-0303
The North American Securities Administrators Association (NASAA): Tasked to protect Main-Street investors from fraud, adopted a Model Act in February of 2016 designed to protect the most vulnerable investors – Seniors.
The Model Act provides as follows:
• Mandates reporting to the state securities regulator and state adult protective services agency when a qualified individual such as a securities broker or investment adviser has a reasonable belief that financial exploitation of an eligible adult has been attempted or has occurred.
• Authorizes notification to third parties only in instances where an eligible adult has previously designated the third party to whom the disclosure may be made. Importantly, the model act directs that disclosure may not be made to the third party if the qualified individual suspects the third part of the financial exploitation. (Continued)
Contact Ms. Stoneman - Stoneman Law Offices - Texas & Colorado. (719) 783-0303 Free Consultation - Representing Clients Nationwide