Were You A Victim Of Investor Fraud By Philip Riposo?

Silver Law Group represents victims of Philip Riposo on a contingency fee basis. Philip Riposo (Philip Anthony Riposo CRD# 400056) is a former broker and investment advisor last registered with United Planners’ Financial Services Of America A Limited Partner (CRD#:20804) of Cave Creek, AZ. Previous employers include Cadaret, Grant & Co., Inc. (CRD#:10641) of New Bedford, MA, LPL Financial Corporation (CRD#:6413) of East Falmouth, MA, and Securities America, Inc. (CRD#:10205) of Lavista, NE. He has been in the industry since 1973.

Philip Riposo was terminated from United Planners on 3/3/2022 after the firm discovered that he was accepting and depositing client checks made out to the name of his “Doing Business As” name (DBA), Riposo Asset Management. Additionally, Philip Riposo also created fictitious account statements and provided them to the clients from whom he received money for his DBA. The firm prohibits both activities. Upon investigation by United Planners, Riposo admitted to both, and was subsequently terminated. FINRA CASE # 2022074280901

In connection with the offer or sale of securities within or from Arizona, Respondent directly or indirectly: (i) employed a device, scheme, or artifice to defraud, (ii) made untrue statements of material fact or omitted to state material facts that were necessary in order to make statements made not misleading in light of the circumstances under which they were made, or (iii) engaged in transactions, practices, or courses of business that operated or would operate as a fraud or deceit upon offerees and investors. Respondent’s conduct includes, but is not limited to, the following: Offering and selling fictitious securities to customers, Taking the proceeds securities for his personal use and benefit, Creating and disseminating fake account statements to conceal his theft or customer funds. Respondent made, participated in, and/or induced these unlawful sales of securities and is liable pursuant to A.R.S 44-2003(A). (DOCKET no. S-21244A-23-0117)

According to his FINRA BrokerCheck report, Riposo has five customer complaints and two employment separations. He was reportedly affiliated with many firms during his 47-year career in the securities industry. Philip Anthony Riposo of The Villages, Florida passed away on Sunday, June 18, 2023 at the age of 74. However, at this time it is now known what happened to the money he took from investors.

Did You Invest With Philip Riposo?

Silver Law Group can help. Silver Law Group represents investors who have been the victims of investment fraud. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide and abroad in securities investment fraud cases. Please contact Scott Silver of Silver Law Group for a no-cost consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.