Vincent Camarda Charged in Alleged Par Funding Fraud

Vincent Camarda (CRD# 2463703[1]), an investment adviser registered with A.G. Morgan Financial Advisors, solicited investments in a fraudulent unregistered securities offering, according to SEC charges and investor disputes. MDF Law is investigating the Massapequa, New York financial professional for similar conduct. We encourage investors with concerns about their accounts to contact us for a free consultation.

More information about the allegations involving Mr. Camarda can be found below. The information herein is based on a September 6, 2024 review of his BrokerCheck record, a Financial Industry Regulatory Authority resource.

Pending Disputes Allege Millions in Damages

Fourteen parties of investors filed disputes involving Mr. Camarda in 2024. These disputes include allegations that he sold unregistered securities, breached his fiduciary duty, violated FINRA rules, and breached contract. The disputes, which remain pending, seek more than $9 million in damages.

SEC Charges Allege Par Funding Fraud

In 2022, the Securities and Exchange Commission announced charges against Mr. Camarda and A.G. Morgan Financial Advisors, the investment adviser firm he owns. According to a litigation release[2] by the agency, the charges allege that he unlawfully offered and sold securities in Complete Business Solutions Group, also known as Par Funding. The SEC notes that Par Funding was previously charged “with operating a fraudulent scheme that raised hundreds of millions of dollars from investors nationwide.”

Per the SEC’s allegations, Mr. Morgan and his co-defendants allegedly raised more than $75 million in funds from more than 200 investors in Par Funding. They allegedly offered and sold these unregistered securities without the approval of their broker-dealer firm. They also allegedly failed to inform clients that A.G. Morgan Financial Advisors “had borrowed, and had not fully repaid, approximately $750,000 from Par Funding.” In connection with their offerings and sales of investments in the company, the SEC alleged, they “received compensation of more than $7 million.” The SEC has charged Mr. Camarda with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as the Investment Advisers Act of 1940. The proceedings remain pending.

FINRA: Camarda Based in Massapequa, New York

Vincent Camarda launched his career as a broker in 1994, when he registered with American Express Financial Advisors and IDS Life Insurance. Over the subsequent years, he worked with firms including SunAmerica Securities, SagePoint Financial, LPL Financial, and Traderfield Securities. He was last registered as a broker with IBN Financial Services’ office in Massapequa, New York from 2021 until 2022. He has been registered as an investment adviser with A.G. Morgan Financial in Massapequa since 2020. 

Investment Complaints? Contact MDF Law for a Free Consultation

If you lost money on investments in Par Funding or other products recommended by Vincent Camarda, you may be able to recover losses. Call MDF Law at 800-767-8040 for a free consultation. Our attorneys accept cases on contingency, meaning clients only pay a fee if they recover losses. We currently offer consultations to investors across the US.