The 23-year-old from Birmingham has joined Gavin Cowan's National League North side on a deal until the end of the season.
The left-sided player, who can play in defence or midfield, returned to football in the summer having served 10 weeks in prison after he was found guilty of assaulting a woman following a minor road accident.
The conviction, which came last November, saw Calder's contract ripped up at Scottish side Inverness Caledonian Thistle, who he joined in summer 2017 after leaving Villa.
Bucks boss Cowan insists Calder, who represented England under-17s on four occasions, will add quality to his ranks.
Cowan, who is making changes at Telford in search of an upturn in form, said: "We are extremely pleased to have Riccardo on board, a player who I know will add quality to the group and we will look forward to welcoming him this week amongst the period of preparation."
Calder played and scored against Telford for National North rivals Bradford PA in August as Cowan's men ran out 3-2 winners.
He becomes the second new signing in under 24 hours after right-back Arlen Birch signed yesterday evening.