Former IBN Financial Services, Inc. broker Vincent Camarda (CRD# 2463703) faces numerous allegations related to promissory note losses. He was registered with IBN Financial Services, Inc. in Massapequa, New York, from 2021 to 2022, when he was terminated regarding, “unlawfully offering and selling securities in connection with a more than $500 million unregistered fraudulent offering with lending company complete business solutions group inc. d/b/a par funding. The SEC previously charged Par Funding and others with operating a fraudulent scheme that raised hundreds of millions of dollars from investors nationwide.”
He was registered with Traderfield Securities Inc. in Massapequa, New York, from 2019 to 2020, and American Portfolios Financial Services, Inc. in Massapequa, New York, from 2014 to 2018.
In June 2022, the United States Securities And Exchange Commission (SEC) filed a lawsuit alleging “an unregistered securities offering that raised more than $75 million from more than 200 investors.” It is alleged that from 2017 to July 2020, investment adviser A.G. Morgan Financial Advisors, LLC, its principal Vincent J. Camarda, and its former Chief Compliance Officer James McArthur violated the federal securities laws. According to the complaint, Vincent Camarda solicited investors and sold promissory notes to investors in connection with a more than $500 million unregistered fraudulent offering with lending company Complete Business Solutions Group, d/b/a Par Funding. While soliciting investors, AGM and Camarda violated their fiduciary duty to their investment adviser clients by failing to disclose to investors that they had a conflict of interest. Specifically, in December 2016, Camarda, on behalf of AGM, began borrowing money from Par Funding through so-called “merchant cash advance” transactions (“the Loans”), and by July 2017, AGM owed Par Funding approximately $750,000 in connection with the Loans. In August 2017, Camarda and McArthur began soliciting investors to invest in promissory notes issued by Par Funding in Par Funding’s unregistered securities offering. From August 2017 until November 2017, Camarda and McArthur solicited nearly one dozen investors to invest at least $2.6 million in promissory notes issued by Par Funding. However, in September 2017, Camarda told at least two investors that it was a safe investment, while failing to disclose that his company AGM was in debt to Par Funding and that Camarda was a guarantor on that debt to Par Funding. AGM, Camarda and McArthur collectively received more than $7 million in compensation from Par Funding for their sales of the unregistered securities. As a result of the conduct described in this complaint, Camarda violated Sections 5(a) and (c) of the Securities Act, Sections 206(1) and (2) of the Advisers Act, and Section 15(a)(1) of the Exchange Act.
Vincent Camarda Customer Complaints
He has been the subject of 20 customer complaints between 2003 and 2024, one of which was denied, according to his CRD report. The most recent complaints were regarding:
December 2024. “Breach of fiduciary duty; failure to supervise; negligence and gross negligence; misrepresentations and omissions. The alleged activity occurred from December 2019 to February 2023.” The customer is seeking $4,000,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with American Portfolios Financial Services, Inc., IBN Financial Services, Inc., Momentix Capital, Inc.(fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
November 2024. “Claimants allege: breach of fiduciary duty; failure to supervise; negligence and gross negligence; and, misrepresentations and omissions. The alleged activity occurred from December 2019 to February 2023.” The customer is seeking $3,600,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc. and Momentix Capital, Inc.(fka Traderfield).
September 2024. “Selling away is alleged. However, investment at issue occurred after affiliation with American Portfolios ended.” The customer is seeking $570,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with American Portfolios Financial Services, Inc.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $300,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc. and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $150,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc. and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $1,000,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc.(fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $125,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc.(fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $1,100,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc. and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $1,300,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $600,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $400,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
June 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March 2021 and June 2022.” The customer is seeking $700,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
May 2024. “SOC alleges that during the period of his association with the Firm, Respondent was liable for: violations of FINRA Rules 2010, 2020, 2111, and 3280; negligence; and, breach of contract. The Respondents period of registration was between March, 2021 and June, 2022.” The customer is seeking $4,700,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc.(fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
May 2024. “The SOC alleges that during the period of his association with the Firm, Respondent engaged in sales of unregistered securities. Respondent was registered with the Firm between March, 2021 and June, 2022.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding mutual fund losses. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc.(fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
May 2024. “The SOC alleges that, during his association with the Firm, Respondent was liable for: negligence and/or gross negligence; breach of contract and breach of good faith and fair dealing; omission of material facts and misleading statements.” The customer is seeking $633,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc. and A.G. Morgan Financial Advisors, LLC.
May 2024. “SOC alleges that, during his time associated with the Firm, Respondent sold unregistered securities in the form of promissory notes. Respondent was registered with the Firm between March, 2021 and June, 2022.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
May 2024. “SOC alleges that, during his period of association with the Firm, Respondent engaged in the sale of unregistered securities. Respondent was registered with the Firm between March, 2021 and June, 2022.” The customer is seeking $2,000,000 in damages, and the case is currently pending. The complaint was regarding promissory note losses, and it took place while he was registered with IBN Financial Services, Inc., Momentix Capital, Inc. (fka Traderfield), and A.G. Morgan Financial Advisors, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, IBN Financial Services, Inc. may be liable for investment or other losses suffered by Vincent Camarda’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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