Vincent Camarda, Chairman and Chief Executive Officer of A.G. Morgan Financial Advisors, LLC, pleaded guilty on April 3 in federal court in Central Islip to securities fraud and investment advisor fraud. The plea was entered before United States District Judge Nusrat J. Choudhury. Camarda faces up to 20 years in prison, restitution of at least $160 million, and forfeiture of more than $6.6 million.
The announcement was made by Joseph Nocella, Jr., United States Attorney for the Eastern District of New York, and James C. Barnacle, Jr., Assistant Director in Charge at the Federal Bureau of Investigation’s New York Field Office.
“We will aggressively prosecute investment advisors who betray their clients’ trust and commit crimes for their own financial gain,” said United States Attorney Nocella. “This defendant used a series of lies to lure clients, including elderly and other vulnerable individuals, into investing with him, all while enriching himself. Today’s guilty plea is an important step toward holding the defendant accountable for the substantial harm he has caused.”
According to court filings presented during the proceeding, Camarda led AGM as Chairman and CEO while working in the securities industry for approximately three decades. He established several funds under AGM between January 2017 and December 2024 that were used as vehicles for fraudulent activity targeting his clients through misrepresentations about risk profiles and diversification of investments.
Camarda failed to disclose conflicts of interest regarding investments made through these funds—including compensation from businesses where client money was invested or familial relationships with those businesses’ operators—and diverted hundreds of thousands of dollars from victims’ accounts for personal use such as luxury goods and travel expenses.
“CEO Vincent Camarda repeatedly deceived trusting clients to steal hundreds of thousands of dollars to finance extravagant purchases. The FBI is committed to protecting investors from executives who abuse their authority to line their own pockets,” said Barnacle.
The U.S. Attorney’s Office is responsible for prosecuting federal crimes like this case within its jurisdiction according to its official website. The office covers Brooklyn, Queens, Staten Island, Nassau County, and Suffolk County as indicated on its website, maintaining offices in Brooklyn and Central Islip per its official site. It also supports community outreach efforts aimed at assisting victims according to the official website.
Breon Peace currently leads the U.S. Attorney’s Office as United States Attorney as noted online.
