Related Federal Cases
- Emily Johnson, Wire Fraud, New York, 2023 · Florida
- Zakia Khan, Medicaid Kickback Scheme, New York · New York
- Michael J. Finkelstein, Health Care Fraud, Long Island NY, 2023 · New York
- Lehman Brothers Executives Accused of Manipulation, New York NY, 2008 · New York
- Moshe Landau, COVID-19 Testing Scam, New York 2023 · New York
Long Island Investment Advisor Pleads Guilty to $160 Million Investment Fraud
Long Island, NY – In a shocking turn of events, Vincent Camarda, the Chairman and Chief Executive Officer (CEO) of A.G. Morgan Financial Advisors, LLC (AGM), pleaded guilty to securities fraud and investment advisor fraud in federal court in Central Islip today.
According to the Department of Justice, Camarda’s scheme involved defrauding clients out of $160,022,836.81. When sentenced, the 49-year-old Long Island native faces a maximum sentence of 20 years’ imprisonment, as well as restitution of at least $160,022,836.81 and forfeiture of $6,639,498.17.
The proceeding was held before United States District Judge Nusrat J. Choudhury. Camarda’s guilty plea comes as a blow to the financial community, which has been rocked by a series of high-profile investment scams in recent years.
As the Chairman and CEO of AGM, Camarda was responsible for overseeing the firm’s investment activities and ensuring that client funds were managed in a transparent and secure manner. Instead, he allegedly used client funds for his own personal gain, engaging in a brazen scheme that has left many investors reeling.
The investigation into Camarda’s activities was led by the United States Attorney’s Office for the Eastern District of New York, with assistance from the Federal Bureau of Investigation (FBI) and the Securities and Exchange Commission (SEC).
Camarda’s guilty plea is a significant victory for law enforcement, which has been working tirelessly to bring investment scammers to justice. As the case against Camarda continues to unfold, it remains to be seen what further consequences he will face for his alleged crimes.
One thing is certain, however: the financial community will be watching this case closely, as it serves as a stark reminder of the devastating consequences of investment fraud.
Key Facts
- State: Alaska
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source â†â€â€ÂÂÂ
ðŸâ€ÂÂÂÂ’ Get the grimiest stories delivered weekly. Subscribe free →
Browse More
All Alaska Cases →All Districts →
