Vincent J. Camarda, the CEO of Long Island-based A.G. Morgan Financial Advisors LLC, has pleaded guilty to securities fraud and investment adviser fraud charges involving at least $138 million in investor losses. The SEC charged Camarda and co-defendant James E. McArthur on April 3, 2026, for running a massive offering fraud that preyed on more than 430 investors, many of them elderly.
What happened
The SEC filed charges against Camarda, McArthur, and A.G. Morgan Financial Advisors on April 3, 2026. According to the complaint, the firm raised approximately $138 million from investors through fraudulent offerings tied to mining operations and coffee shop ventures. When the underlying companies defaulted in early 2024, investors lost roughly $123 million in unreturned principal.
Key facts
Camarda served as CEO of A.G. Morgan Financial Advisors LLC, headquartered in Bethpage, New York. He and McArthur orchestrated the fraud by making materially false and misleading representations to investors about the nature and safety of the investments. Many victims were elderly and financially unsophisticated.
| Detail | Information |
|---|---|
| Defendant | Vincent J. Camarda |
| Firm | A.G. Morgan Financial Advisors LLC |
| Location | Bethpage, Long Island, NY |
| Co-defendant | James E. McArthur |
| Investors defrauded | 430+ |
| Total losses | $138 million+ |
| Unreturned principal | $123 million |
| Restitution ordered | $160 million+ |
| Maximum prison sentence | 20 years |
| SEC filing date | April 3, 2026 |
Scheme mechanics
Camarda and his co-defendants convinced investors to place money into offerings that supposedly funded mining operations and coffee shop businesses. In reality, the underlying companies were unsustainable and defaulted in early 2024. The scheme collapsed, leaving investors unable to recover their principal. Many victims had invested their retirement savings.
The fraud targeted elderly and financially unsophisticated individuals. These investors trusted their adviser to act in their best interest. Instead, they were sold high-risk ventures disguised as safe opportunities.
What investors should do
Investors who lost money through A.G. Morgan Financial Advisors should take immediate action. Document all communications with the firm, including account statements, trade confirmations, and any marketing materials you received. Contact a securities attorney to explore your recovery options.
Federal restitution orders can take years to distribute. FINRA arbitration may offer a faster path to recovery, especially if the broker-dealer that held your account failed to supervise Camarda properly.
How to recover your losses
Securities fraud victims have rights under FINRA arbitration rules and federal securities laws. Time limits apply to filing claims, so acting quickly matters. An experienced securities attorney can review your account history, assess whether supervision failures contributed to your losses, and explain your legal options.
Haselkorn & Thibaut fights for investor recovery
Haselkorn & Thibaut is a securities law firm founded by former Wall Street defense attorneys who shifted their practice to represent investors. The firm has recovered over $520 million for clients in securities matters and maintains a 98 percent success rate in resolved nontraded REIT cases. Attorneys are AV Preeminent rated through Martindale-Hubbell, designated as Super Lawyers, and hold a 5.0-star client review average. The firm operates on a contingency basis — no recovery, no fee.
Contact Haselkorn & Thibaut today
Time matters in securities fraud recovery cases. The earlier you act, the stronger your position. The firm offers a free case evaluation to assess your losses, review your account history, and explain your options under arbitration or settlement.
- Main Phone: 1-888-885-7162
- Visit our website for a free consultation
Offices in Florida, New York, Arizona, Texas, and North Carolina. Former Wall Street defense attorneys with 95+ years of combined experience. No recovery, no fee.
This article is for informational purposes only and does not constitute legal advice. Past results do not guarantee future outcomes.
