The US District Court for Colorado sentenced former LPL Financial representative Sonya Delora Camarco to 20 years in prison for stealing several millions of dollars from clients between 2013 and 2017 while associated with LPL.
The SEC froze Camarco's assets in August, fearing that she would try to dissipate the stolen funds, which the SEC pinned at over $2.8 million. Under the terms of her plea deal, Sonja Camarco officially pleaded guilty to securities fraud and theft totaling just $1.84 million.
The associated SEC complaint filed in Colorado alleged that Camarco (CRD #2427529) directed LPL Financial to make out checks drawn on client accounts to an entity Camarco controlled called "C Investments." According to the SEC, the checks were then mailed to a PO Box in Parker, CO, also owned by Camarco, who endorsed and deposited the checks into a FirstBank account in the name of Camarco Investments, Inc., which was a company that Camarco wholly owned and controlled.
Camarco also purportedly forged client signatures on various check requests in the furtherance of her fraudulent misappropriation scheme, made material misrepresentations and omitted facts by telling her investors that their accounts were doing well and there were no problems while she in fact was stealing their money.
Said the SEC, "it would have been material to investors that Camarco was stealing money from their accounts."
Camarco also purportedly blamed her victims for their financial losses, saying that one client was guilty of "spending too much" when the "spending" was really a cover story or excuse meant to conceal the fact that Camarco was stealing from this customer.
If you have invested with former LPL Financial broker Sonya D Camarco aka Sonya Fatchett or with any financial adviser or representative who has misappropriated or stolen money from you while lying about the losses in your account, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.