September 18, 2017 Comments (0) Blog, Current Investigations, Securities Fraud

LPL Advisor Sonya Camarco Charged with Stealing Client Funds

Sonya Camarco
(Last Updated On: September 18, 2017)

Investigating Potential Claims Involving Sonya Carmaco

According to her FINRA BrokerCheck report, the United States Securities and Exchange Commission alleges that from 2004 until August 2017, advisor Sonya Camarco, while registered with LPL Financial, allegedly used her company Camarco Investments, Inc., to take over $2.8 million in investor funds from her clients and customers.

Camarco allegedly used investor accounts to pay hundreds of thousands of dollars in credit card bills and took cash advances on investor accounts, according to various reports. In addition, she allegedly transferred investor funds directly to her personal bank account, and purportedly deposited investor funds through Camarco Investments into her personal bank account.

Sonya Camarco allegedly used investor funds to buy a home in the name of Camarco Living Trust and also purportedly paid for her personal home mortgage with stolen client funds.

According to her FINRA BrokerCheck report, Sonya Camarco, also allegedly known as Sonya Fatchett, was registered with LPL Financial LLC in Colorado Springs, CO from 02/27/2004 until 08/10/2017 when she was discharged for the above allegations.

The White Law Group continues to investigate potential claims against LPL Financial and Sonya Camarco.

Failure to Supervise Advisor Sonya Camarco

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

If you suffered losses investing with Sonya Camarco and LPL Financial, the attorneys of The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, please call 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.WhiteSecurtiesLaw.com.