Broker Fraud Lawyers

Are You An Investor Who Suffered Losses While Working With AG Morgan Financial Advisors, IA Vincent Camarda?

Retail Investors, Including Retirees, Report Devastating Portfolio Losses Related To Alleged AGM Fund Fraud 

Shepherd Smith Edwards and Kantas Broker Fraud Lawyers (investorlawyers.com) continue to report claims of portfolio losses while working with Long Island-based investment adviser Vincent Jerome Camarda, who is with AG Morgan Financial Advisor. Camarda’s CRD shows at least 18 pending customer disputes brought over the past 12 months. Collectively, his former clients are seeking more than $23M related to the alleged AGM Fund Fraud.

Many of the claimants entrusted Camarda with their retirement funds and life savings. In a civil lawsuit brought by the US Securities and Exchange Commission (SEC) in 2022, this investment adviser is accused of raising over $75M from more than 200 investors to whom he sold promissory notes in a purportedly $500M unregistered fraudulent offering from Complete Business Solutions Group, d/b/a Par Funding.

The SEC contends that Camarda and AGM violated their fiduciary duty by not disclosing that Camarda, for AGM, started borrowing funds from Par Funding. By mid-2017, AGM owed Par Funding about $750K related to the loans. Meanwhile, the investment adviser misrepresented the risks as he and AGM’s former CCO were paid over $7M in compensation from Par Funding for selling the AGM Fund I and the AGM Fund II.

Camarda is a former IBN Financial Services broker, although the firm let him resign in 2022 following allegations of unregistered securities sales. Before that, he was a broker at Traderfield Securities—now Momentix Capital—and previously to that an American Portfolio Financial Services registered representative. He also worked at other broker-dealers during his 30 years in the industry.

Many of Camarda’s alleged victims are investors who are 60 years of age and older. They claim that he promised that their money was safe and their investments would help support them in their later years. Now, in their FINRA lawsuits, these older investors are alleging breach of fiduciary duty, negligence, unjust enrichment, misrepresentations and omissions, gross negligence, selling away, failure to supervise, and more.

How Can Our Broker Fraud Lawyers Help With Your AGM Fund Fraud Losses 

Whether Camarda sold you Par Funding promissory notes as an AG Morgan Financial Advisors registered representative or as a broker at one of the broker-dealers where he used to work, you may be able to sue him and/or the firm for damages.

Even if the brokerage firms were unaware he was selling unauthorized investments to customers, they still could be held liable for their failure to supervise him or identify any fraudulent behavior on his behalf.

In an interview with NBC Connecticut, one investor who entrusted her funds to Camarda contends that she and her husband lost their entire life savings. “He just destroyed us.”

Shepherd Smith Edwards and Kanats Broker Fraud Lawyers have been representing investors against broker-dealers and investment advisers for more than 30 years. Our securities firm has a collective more than a century’s worth of experience in securities law and the securities industry. More than 90% of our clients have secured full or partial financial recovery.

Allow us to help you determine whether you have grounds for a securities claim over your AGM Fund Fraud losses during your free, initial case consultation.

Contact Our Investment Broker Fraud Lawyers Today

Call (80)) 259-9010 or fill out this form.