SSEK Broker Fraud Attorneys

Shepherd Smith Edwards and Kantas Broker Fraud Attorneys Investigates Former Traderfield Securities/Momentix Capital and IBN Ex-Financial Broker Vincent Camarda 

Customers Who Suffered Losses File FINRA Lawsuits For Over $23M 

Shepherd Smith Edwards and Kantas Broker Fraud Attorneys (investorlawyers.com) is looking into claims of losses of former customers of ex-IBN Financial Broker Vincent Jerome Camarda. Previous to that, he was a registered representative with Traderfield Securities, which is now known as Momentix Capital. Camarda continues to be a registered investment adviser with AG Morgan Financial Advisors.

The former New York financial advisor’s CRD shows 23 disclosures, including 18 pending customer disputes that have been filed within the past year. In these FINRA lawsuits, these claimants are collectively seeking more than $23M in damages.

Allegations made include negligence, breach of fiduciary duty, misrepresentations and omissions, unjust enrichment, abetting fraud, unjust enrichment, gross negligence, failure to supervise, selling away, and more. More investment loss recovery claims may be filed.

A number of his alleged victims are older investors over the age of 60. They contend that Camarda told them that these investments were secure and would support them in their later years.

Vincent Camarda Is Sued By SEC Over Alleged AGM Fund Fraud 

In 2022, the US Securities and Exchange Commission (SEC) charged Camarda, AG Morgan Financial Advisors, and its ex-Chief Compliance Officer James Edward McArthur with securities violations, including allegedly unlawfully offering and selling securities involving an over $500M unregistered fraudulent offering affiliated with Complete Business Solutions Group Inc. d/b/a Par Funding. The regulator had previously charged the latter, along with others, with running a scam that raised hundreds of millions of dollars from investors.

The Commission accused Camarda, McArthur, and AG Financial Advisors of raising over $75M from investors related to the alleged Par Funding scam while they purportedly earned over $7M in compensation.

These securities were unapproved by the broker-dealer they were registered with at the time and included AGM Fund I and AGM Fund II. Both Funds promised ridiculously high returns. When a broker sells investments that were not properly vetted and/or approved by their firm of record, that is considered selling away, which is broker misconduct.

James McArthur’s Former Customers Also Suing For Millions

McArthur’s CRD notes 17 customer disputes in which the claimants are collectively seeking millions of dollars in financial recovery.

Representing Investors Against Victims of Broker Fraud

Shepherd Smith Edwards and Kantas Broker Fraud Attorneys have been fighting for investors who have been the victim of broker misconduct and investment adviser fraud for over 30 years. We offer seasoned securities representation and personalized attention to seniors, retirees, retail investors, wealthy investors, and institutional investors.

Brokerage firms have a duty to properly oversee their registered representatives and their activities with investors. Failure to supervise can be grounds for an investment fraud recovery lawsuit even if the broker-dealer had no idea anything fraudulent was taking place.

Our broker fraud attorneys have represented investors in arbitration, mediation, negotiations, and litigation. More than 90% of investors have secured full or partial financial recovery through our skilled efforts and dedication. When you work with us, know that we come with more than a century’s worth of collective experience in securities law and the securities industry.

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