Former LPL FINANCIAL Advisor, SONYA D CAMARCO, Sentenced to 20 Years

SONYA D CAMARCO (Also known as:  SONIA D FATCHETT, SONYA D FATCHETT, SONYA D FATCHETT-CAMARCO) CRD#: 2427529, a 47 year-old Colorado Springs investment advisor, formerly with LPL Financial in Colorado Springs, was sentenced to 20 years in prison after pleading guilty to single counts of securities fraud and theft totaling more than $1.8 million.

SONYA D CAMARCO will serve consecutive sentences for fraud and theft plus 20 years of probation for filing a false state income tax return. Camarco was ordered to pay $1.84 million in restitution to her former clients.

A Colorado grand jury had indicted her in September of 2017 on six counts of securities fraud and seven counts of theft for allegedly diverting client funds to her own personal use between 2013 and 2017. She allegedly used her clients’ money to buy real estate, pay automobile expenses and pay credit card and tax debts.

According to FINRA’s BrokerCheck, on September 13, 2017, FINRA barred SONYA D CAMARCO from acting as a broker or otherwise associating with a broker-dealer firm. LPL Financial terminated Camarco on August 9, 2017, “for depositing third party checks from client accounts into a bank account she controlled and accessing client funds for personal use.” LPL Financial referred the case to the Colorado Division of Securities, and they launched an investigation that led to the indictment.

At the request of the SEC, the federal court in Denver froze SONYA D CAMARCO’s assets in 2017. They alleged she stole $2.8 million from at least 16 clients. The court has yet to rule on the motion.

Camarco was with 3 firms during her 23 years in the securities industry. The two most recent are listed below:

02/27/2004 – 08/10/2017  LPL FINANCIAL LLC – COLORADO SPRINGS, CO

07/17/2000 – 03/02/2004  MORGAN STANLEY DW INC – PURCHASE, NY

If you suffered financial losses due to the actions of former LPL Financial of Colorado Springs financial advisor, SONYA D CAMARCO, contact Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA and we operate on a contingency fee basis.

2018-11-02T19:32:35+00:00November 2nd, 2018|

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