February 14, 2018 Comments (1) Blog, Current Investigations, Securities Fraud

Update – Sonya Carmarco – LPL – Investigation

Sonya Camarco
(Last Updated On: July 27, 2018)

Sonya D. Camarco – 8 Customer Disputes since August 2017

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

Since her dismissal from LPL Financial in August for allegedly  “depositing third party checks from client accounts into a bank account she controlled and accessing client funds for personal use,” Sonya Camarco has had 9 customer complaints filed against her, according to her FINRA BrokerCheck Report.

As we told you in September, the SEC alleged that Camarco, while registered with LPL Financial, 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.

According to her FINRA BrokerCheck report, Sonya D. Camarco, also allegedly known as Sonya Fatchett, was registered with LPL Financial LLC in Colorado Springs, CO from February 2004 until August 2017.

There are 8 Customer Complaints listed on Camarco’s BrokerReport since August 2017. Allegations include the following:

  • CUSTOMER’S ATTORNEY ALLEGES BREACH OF FIDUCIARY DUTY WITH RESPECT TO AN ELDERLY INDIVIDUAL, CONVERSION AND FRAUD.
  • CLIENT ALLEGES MISAPPROPRIATION OF FUNDS.
  • TRUSTEE OF LIVING TRUST ALLEGES MISREPRESENTATION OF FUNDS.
  • TRUSTEE OF LIVING TRUST ALLEGES MISAPPROPRIATION OF FUNDS AND FORGERY.

In September, an emergency court order and asset freeze was obtained preventing former LPL broker Sonya D. Camarco from further dissipating stolen client assets, according to the SEC.

The SEC’s complaint, filed in federal court in Colorado, seeks disgorgement of allegedly ill-gotten gains plus interest from all the defendants and seeks a permanent injunction against and penalties from Camarco.

Free Consultation

If you have questions about investments you made with Sonya D. Camarco, the securities attorneys at The White Law Group may be able to help you.  To speak with a securities attorney, please call 888-637-5510.

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

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

 

 

 

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