SONYA CAMARCO Sued by SEC for Theft
Sonya Camarco of Colorado Springs Sued By SEC forTheft
Have you lost money with financial advisor Sonya Camarco? Our law firm has launched an independent investigation into allegations made by the Securities and Exchange Commission against Sonya Camarco. The SEC recently filed a complaint against Camarco that alleges that she misappropriated over $2.8 million dollars from her clients and customers. Specifically, the Complaint alleges that she used investor funds to pay hundreds of thousands of dollars of personal credit card bills, took cash advances against customer accounts, and transferred funds customer funds directly to her personal accounts. The Complaint also stated that she used investor funds to purchase her personal residence in the name of her living trust, and further, used her client’s money to service her home mortgage.
The Complaint states that Sonya D. Camarco resides in Colorado Springs and did business through a company known as “Camarco Investments, Inc.” The fraudulent theft scheme alleged in the Complaint was purportedly ongoing from 2004 to 2017 and could have impacted approximately 100 clients and customers. One of the mechanisms of fraud described in the Complaint involved Camarco issuing checks from customer accounts, without their knowledge or permission, payable to “C Investments”, and having those checks mailed to her private post office box in Parker, Colorado. Thus, Camarco Investments, Inc. appears, if the allegations are proven to be true, to have been an artifice used by Camarco to launder the stolen funds.
Sonya Camarco was a financial advisor, registered representative, and advisory representative of LPL Financial, LLC from February 27, 2004 through August 9, 2017. Her BrokerCheck report, a publicly available document provided by FINRA (the Financial Industry Regulatory Authority), states that Sonya Camarco has been terminated by LPL for the above detailed conduct. Prior to her termination, she worked at an LPL Financial, LLC branch office in Colorado Springs, Colorado.
Brokerage firms like LPL Financial, LLC have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives and customers experience losses, the firm may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and Seattle, Washington. One of our attorneys, Aaron Israels, works full time from our Denver office and is licensed to practice law in the state of Colorado. If you have lost money due to the actions of Sonya Camarco or LPL Financial, LLC, we would like to discuss this matter with you personally. We offer free in person or phone consultations and can travel to Colorado Springs to meet with you if you have difficultly traveling.
Click to view: Camarco, Sonya BrokerCheck
Click to view: Camarco Complaint
If you lost money with Sonya Camarco or LPL Financial, LLC, please CONTACT US at 720-599-3505 for a free and confidential evaluation of your potential case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.