const
rtf_open = '{\rtf1\ansi ';
rtf_close = '}';
procedure TForm1.Button1Click(Sender: TObject);
var
Stream : TMemoryStream;
Source : string;
begin
Source := rtf_open + 'Some \par text.' + rtf_close;
Stream := TMemoryStream.Create;
Stream.WriteBuffer(Pointer(Source)^, Length(Source));
Stream.Seek(0,soFromBeginning);
RichMemo1.LoadRichText(Stream);
Stream.Free;
end;