Former LPL Financial Broker Sonya Camarco Sued by SEC for Allegations of Client Theft
Former LPL Financial broker Sonya Camarco (CRD# 2427529) is subject to a pending lawsuit by the Securities and Exchange Commission (SEC) over allegations she committed investor fraud by stealing $2.8 million of client funds.
According to the SEC, beginning in 2004 through August 2017, Camarco misappropriated over $2.8 million from customer accounts, using the money for pay her own credit cards, buy a house, and fund her personal bank account.
On August 9, 2017, she was terminated by LPL Financial. Camarco worked out of LPL Financial’s Colorado Springs office and operated several entities. Her businesses included SDC Advisory, Camarco Investments Inc. (also known as C Investments), and Camarco Living Trust. The SEC case against her is pending in the United States District Court for the District of Colorado.
Investment Fraud Betrays Trust
Financial advisors such as Sonya Camarco are in a position of trust, and when that trust is betrayed, they need to be held accountable.
The investment fraud attorneys at Meyer Wilson have more than 20 years of experience representing investors who have felt that sting of betrayal by unscrupulous brokers. Fortunately, there are some ways you can protect yourself from investment fraud.
Never give your broker a check payable directly to the broker or to a company owned by the broker. You should send your money directly to the institution that is going to take custody of your money, not to the person who is selling you the investments.
Look over your investment account statements as soon as you receive them. Theft from brokerage accounts occurs when the broker makes unauthorized withdrawals. Elderly investors are more vulnerable to this type of investment fraud because medical issues or cognitive impairment can cause them to miss such an aberration. If you have elderly loved ones, it would be in their best interest if you helped keep an eye on their account activity with them.
If you have been a victim of investment fraud by Sonya Camarco or any other broker, the attorneys at Meyer Wilson are here to help you. Call today for a free consultation.