Investor Alert: SEC Charges Vincent J. Camarda, James E. McArthur, and A.G. Morgan Financial Advisors in Alleged $138 Million Fraud
Investor Alert: SEC Charges Vincent J. Camarda, James E. McArthur, and A.G. Morgan Financial Advisors in Alleged $138 Million Fraud
Investors should take immediate notice of a major enforcement action brought by the U.S. Securities and Exchange Commission (SEC) involving Vincent J. Camarda (CRD#: 2463703), James E. McArthur, and A.G. Morgan Financial Advisors, LLC.
In Litigation Release No. 26520 (April 3, 2026), the SEC announced charges alleging a large-scale offering fraud that raised at least $138 million from approximately 431 investors.
Overview of the SEC Allegations
According to the SEC’s complaint filed in the U.S. District Court for the Eastern District of New York, the defendants engaged in a fraudulent scheme from June 2020 through December 2023.
The complaint alleges that Camarda and McArthur:
- Targeted advisory clients, including many elderly and financially unsophisticated investors
- Marketed investments as conservative and safe, despite significant underlying risks
- Induced clients to purchase promissory notes tied to five private equity funds they created and controlled
However, the SEC alleges that the reality of these investments was far different from what investors were told.
Concentration in High-Risk and Self-Interested Investments
According to the complaint:
- Four of the funds were invested entirely in a high-risk mining venture
- The fifth fund was allegedly used exclusively to finance a start-up coffee company operated by Camarda’s son
These facts, if proven, directly contradict representations that the investments were diversified and conservative.
Undisclosed Conflicts of Interest
The SEC further alleges that the defendants failed to disclose critical conflicts of interest, including:
- Receiving compensation tied to the mining venture investments
- Creating a fund specifically to benefit a family member’s business
Such undisclosed conflicts are a central issue in many securities fraud cases and can significantly impact the suitability of investment recommendations.
Alleged Misappropriation of Investor Funds
In addition to the offering fraud allegations, the SEC claims that Camarda misappropriated approximately $1 million in client funds, transferring investor money to his personal bank account.
Prior Regulatory History and Legal Violations
The SEC’s complaint follows a prior enforcement action involving the same defendants, raising additional concerns about repeat misconduct.
The defendants are charged with violations of:
- Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933
- Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
- Sections 206(1) and 206(2) of the Investment Advisers Act of 1940
The SEC is seeking:
- Permanent injunctions
- Disgorgement with prejudgment interest
- Civil penalties
- Conduct-based injunctions against Camarda and McArthur
Parallel Criminal Charges Filed
In a parallel action, the U.S. Attorney’s Office for the Eastern District of New York has announced criminal charges against Vincent J. Camarda, underscoring the seriousness of the alleged misconduct.
What This Means for Investors
If you invested with Vincent J. Camarda, James E. McArthur, or A.G. Morgan Financial Advisors, LLC, you may have been exposed to:
- Misrepresentations regarding risk and diversification
- Unsuitable investment recommendations
- Undisclosed conflicts of interest
- Concentrated investments in speculative ventures
- Potential misuse or misappropriation of funds
Even if you are uncertain whether your losses are connected, a professional review of your accounts is strongly recommended.
Recovering Investment Losses
Investor Alert: SEC Charges Vincent J. Camarda, James E. McArthur, and A.G. Morgan Financial Advisors in Alleged $138 Million Fraud
Investors who suffered losses may be eligible to pursue recovery through FINRA arbitration or other legal avenues.
The securities attorneys at Goodman & Nekvasil, P.A. are actively investigating claims related to these allegations and may be able to help affected investors seek recovery.
Investors who feel they have been harmed by investment advice or have suffered financial losses are encouraged to contact the securities attorneys at Goodman & Nekvasil, P.A. to have their accounts reviewed and to determine whether they may be entitled to recover losses through FINRA arbitration.
Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.
Investor Alert: SEC Charges Vincent J. Camarda, James E. McArthur, and A.G. Morgan Financial Advisors in Alleged $138 Million Fraud
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 4/7/26. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.