SEC Gets Emergency Asset Freeze Against Colorado Springs LPL Financial Broker

The SEC filed an emergency action in Colorado federal court on August 23rd to freeze the assets of recently terminated LPL Financial broker Sonya D. Camarco, a/k/a Sonya D. Fatchett. The court granted the request August 24^th. The SEC alleges in its complaint that from 2004 to 2017, Camaro stole approximately $2.8 million from multiple LPL Financial clients. She carried out her multiple thefts by forging customers’ signatures on check requests for checks drawn on customers’ accounts made payable to “C Investments,” an entity that she controlled. Alternatively, she caused checks to be issued to customers in their name but had them mailed them to a post office box she controlled. She then forged customers’ endorsements on the checks and deposited them in bank accounts she controlled. According to the SEC complaint, she sometimes liquidated securities in the accounts so that cash was available for withdrawal. When asked by clients about the withdrawal activity, she told them that C Investments was an entity in which she had made an investment for them. She also misrepresented the value of the accounts to clients to hide the withdrawals, sometimes telling them that THEY were spending too much money. The plot began to unravel when someone at LPL Financial finally noticed the checks drawn on different customer accounts going to C Financial and questioned Camaro. She initially lied to LPL Financial personnel, telling them C Investments was related to an advisory client. Camaro’s BrokerCheck report, which only has this one disclosure, states that LPL Financial discharged her on August 9th “for depositing third party checks from client accounts into a bank account she controlled and accessing client funds for personal use.” The SEC complaint alleges that Camaro used some of the stolen funds to pay personal credit card bills. She may also have bought a house with it and/or paid mortgages for the five houses owned by the Camaro Living Trust. She and her husband are the trustees of that trust. Camaro began working in the securities industry in 1993. She had worked at LPL Financial since 2004. Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.