The Frankowski Firm is investigating potential claims against Sonya D. Camarco, formerly with LPL Financial, LLC in Colorado Springs, Colorado. LPL terminated Ms. Camarco on August 9 of this year following SEC allegations that Ms. Camarco was depositing third-party checks from client accounts into a bank account she controlled and was accessing her client’s funds for personal use, according to her FINRA BrokerCheck report.
The report goes on to detail how Ms. Camarco allegedly misappropriated over $2.8 million in investor funds from her clients and customers, using their accounts to pay hundreds of thousands of dollars in credit card bills. She also took cash advances on investor accounts, transferred investor funds directly to her personal bank account, and funneled investor funds through her company, Camarco Investments, into her personal bank account. Ms. Camarco has also been indicted by the State of Colorado for the alleged securities fraud and theft.