Germantown, MD – On Friday, Ansoumane Camara, 35, of Germantown, MD, was sentenced to 18 months in prison for securities fraud and felony theft, after pleading guilty to defrauding a client of $129,966 through unregistered investment services. In addition to his prison sentence, Camara was ordered to repay the full stolen amount and serve five years of probation upon his release.
The case, which was announced by Maryland Attorney General Anthony G. Brown, involved Camara’s actions from 2019 to 2021. Camara, who formed Camara Enterprises, presented himself as an investment manager, soliciting clients for advisory and management services. However, neither Camara nor his company was registered in Maryland, as required by law.
Camara’s victim, a woman in her mid-60s with no prior investment experience, trusted Camara with her savings, depositing $205,000 into an account he managed. Instead of managing the funds responsibly, Camara used risky trading strategies, charged illegal fees, and failed to provide required disclosures. Between February 2020 and March 2021, Camara stole at least $129,966 from the victim.
He used the stolen funds for personal expenses, including leasing a car, purchasing a vehicle for family members, paying off credit card debt, withdrawing cash, and making a down payment on a house in Germantown.
Judge Eric M. Johnson of the Montgomery County Circuit Court sentenced Camara to 15 years in prison, suspending all but 18 months. Camara will also be required to repay the victim the full $129,966 in restitution. In addition to the prison sentence, he will serve five years of probation once released.
The investigation was led by the Fraud and Corruption Unit and the Securities Division of the Maryland Office of the Attorney General. The efforts of Assistant Attorney General William Elman and Investigative Auditor Harry Armstrong, along with support from Montgomery County State’s Attorney John McCarthy, were crucial in bringing Camara to justice.