Former Colorado LPL Broker Sonya Camarco Charged with Stealing Client Funds

Sonya Camarco (CRD #2427529), a longtime Colorado Springs resident and former Broker with LPL Financial LLC (CRD #6413) is the target of a SEC asset freeze request.

The SEC complaint alleges Camarco, over the past 13 years, systematically stolen money from her client’s investment accounts. The SEC alleges that Sonya Camarco forged client signatures on checks made out to “C Investments” a fictitious investment firm that Camarco controlled. When confronted by her clients, Camarco explained that “C Investments” was an outside investment that she made on their behalf.

When Camarco’s employer became aware of the alleged fraud, Camarco suggested that “C Investments” was an outside client investment that she had no affiliation with. Using a private PO Box, Camarco sent forged client checks to herself and then use the ill-gotten funds to pay personal bills and mortgages.

LPL employed Sonya from June 2004 until she resigned in 2017. Sonya operated out of LPL Financials’ Colorado Springs, Colorado branch.  According to Sonya’s detailed CRD report, she has 16 years of experience at brokerage firms like Morgan Stanley (CRD #7556) and Merrill Lynch (CRD #7691)

The SEC’s complaint, filed in federal court in Colorado on August 23, 2017, charges Camarco with violations of Sections 17(a)(1) and (3) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. The complaint seeks disgorgement of allegedly ill-gotten gains plus interest from all the defendants and seeks a permanent injunction against and penalties from Camarco.

LPL customers of Camarco may be able to recover their losses from LPL who was responsible for supervising Camarco amongst other issues.  These claims are typically handled through securities or FINRA arbitration which can be an efficient way to recover your lost investment funds due to stock broker fraud.  We work on a contingency fee basis, meaning you pay us nothing unless we recover money for you.

If you have been a victim of with Sonya Camarco’s alleged fraud and have lost money doing so, you may be able to recover some or all of your losses.  Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.

Contact Our Firm if You’ve Lost Money with Camarco and LPL Financial

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.