VINCENT JEROME CAMARDA formerly with IBN

VINCENT JEROME CAMARDA, the most recently with, IBN Financial Services, Inc., and Traderfield Securities, of Massapequa, New York, according to FINRA's BrokerCheck, has 19 disclosures on his FINRA CRD report.  Of the 19 disclosures, 17 are “Customer Disputes,” 13 were filed in 2024 alone. The damage amounts requested for 5 of the pending disputes from 2024 is over $1,000,000.00, and the remainder of the disputes filed this year are all in the hundreds of thousands of dollars.

The significance of VINCENT JEROME CAMARDA’s FINRA Customer Complaints is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words Camarda’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. 

According to FINRA’s BrokerCheck, available on FINRA’s website, VINCENT JEROME CAMARDA, has been in the securities industry for 27 years and has been listed with 5 firms.  Camarda was previously registered as a broker and is currently registered as an investment advisor. Besides the 17, “Customer Disputes,” Camarda also has an “Employment Separation after Allegations.” In June of 2022, Camarda was “permitted to resign” from IBN FINANCIAL SERVICES, INC. following these allegations, “UNLAWFULLY OFFERING AND SELLING SECURITIES IN CONNECTION WITH A MORE THAN $500 MILLION UNREGISTERED FRAUDULENT OFFERING WITH LENDING COMPANY COMPLETE BUSINESS SOLUTIONS GROUP INC. D/B/A PAR FUNDING. THE SEC PREVIOUSLY CHARGED PAR FUNDING AND OTHERS WITH OPERATING A FRAUDULENT SCHEME THAT RAISED HUNDREDS OF MILLIONS OF DOLLARS FROM INVESTORS NATIONWIDE.”

There is also a “Civil” disclosure on VINCENT JEROME CAMARDA’s FINRA CRD report that is pending filed by the UNITED STATES SECURITIES AND EXCHANGE COMMISSION (SEC) in June of 2022.  The allegations are as follows: “Plaintiff Securities and Exchange Commission (the "Commission") alleges that this case concerns an unregistered securities offering that raised more than $75 million from more than 200 investors. From no later than August 2017 until at least November 2017 and from no later than December 2018 until at least July 2020, investment adviser A.G. Morgan Financial Advisors, LLC ("AGM"), its principal Vincent J. Camarda, and its former Chief Compliance Officer James McArthur violated the federal securities laws. The Defendants solicited investors and offered or sold promissory notes to investors in connection with a more than $500 million unregistered fraudulent offering with lending company Complete Business Solutions Group, d/b/a Par Funding ("Par Funding"). While soliciting investors, AGM and Camarda violated their fiduciary duty to their investment adviser clients by failing to disclose to investors that they had a conflict of interest. Specifically, in December 2016, Camarda, on behalf of AGM, began borrowing money from Par Funding through so-called "merchant cash advance" transactions ("the Loans"), and by July 2017, AGM owed Par Funding approximately $750,000 in connection with the Loans. In August 2017, Camarda and McArthur began soliciting investors to invest in promissory notes issued by Par Funding in Par Funding's unregistered securities offering. From August 2017 until November 2017, Camarda and McArthur solicited nearly one dozen investors to invest at least $2.6 million in promissory notes issued by Par Funding. However, in September 2017, Camarda told at least two investors that it was a safe investment, while failing to disclose that his company AGM was in debt to Par Funding and that Camarda was a guarantor on that debt to Par Funding. AGM, Camarda and McArthur collectively received more than $7 million in compensation from Par Funding for their sales of the unregistered securities. As a result of the conduct described in this complaint, Camarda violated Sections 5(a) and (c) of the Securities Act, Sections 206(1) and (2) of the Advisers Act, and Section 15(a)(1) of the Exchange Act.”

If you would like to discuss this article or anything related, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

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