On August 24, 2017, the Securities and Exchange Commission announced that it had acquired an emergency court order and asset freeze to prevent a former Colorado-based broker from further utilizing stolen client assets. The SEC’s complaint alleges that Sonya D. Camarco of Colorado Springs stole money from her clients’ accounts over the course of 13 years.
The SEC alleges that the defendant then lied to her clients about the nature of the withdrawals. The SEC has accused Camarco of forging client signatures on checks made out to “C Investments”, which is an entity allegedly used by Camarco. It is also alleged that Camarco had the checks sent to a private post office box that she rented.
When approached by clients, Camarco is accused of lying and telling them that C Investments was an outside investment she had made on their behalf. Camarco is also accused of lying again when confronted by her employer. At this time, it is alleged that Camarco told her employer that she had no affiliation with C Investments. Camarco is accused of utilizing the stolen funds to pay for her mortgage and personal credit card bills.
The SEC complaint accuses Camarco of running a scheme from 2004 to at least August 2017 and misappropriating more than $2.8 million in investor funds from clients and customers. The SEC claims that Camarco used the money to pay hundreds of thousands of dollars in credit card bills and to purchase a house in the name of Camarco Living Trust.
During the time of the scheme, Camarco worked as a registered and advisory representative with LPL Financial LLC. She was terminated from the firm on August 9, 2017. Camarco had previously worked with Morgan Stanley and Merrill Lynch. She holds Series 7, 24, 63, and 65 licenses.
The Securities and Exchange Commission has charged Camarco Living Trust and Camarco Investment Inc. as relief defendants alleging their receipt of stolen client funds. 45-year-old Sonya D. Camarco of Colorado Springs, Colorado is innocent until proven guilty in a court of law.