A Germantown man has been sentenced to 18 months in jail for securities fraud and felony theft after he stole over $129,000 from a former client. Ansoumane Camara, 35, was sentenced by Judge Eric M. Johnson of the Montgomery County Circuit Court after pleading guilty in July 2024 to charges related to his unregistered financial advising business.
Camara, who operated under the name Camara Enterprises, promised to manage investments for clients but was never registered to provide such services in Maryland. Between 2019 and 2021, he solicited a woman in her 60s—without prior investment experience—and convinced her to deposit $205,000 into a brokerage account, which he managed using high-risk strategies. In violation of financial regulations, Camara charged the client illegal fees and failed to provide required disclosures about his services.
Instead of using the client’s funds for their intended purpose, Camara siphoned off at least $129,966 for his own personal use. He used the stolen money to lease and purchase cars, pay down credit card debt, and even make a down payment on a house in Germantown.
“This case highlights the significant risk posed by unregistered financial advisers,” said Attorney General Anthony G. Brown. “Camara preyed on an unsuspecting client, stealing her hard-earned money and betraying her trust. His actions caused significant financial harm and will now lead to real consequences for him.”
In addition to his jail sentence, Camara was ordered to pay restitution of $129,966 to his victim and will serve five years of probation following his release.
The investigation was led by the Fraud and Corruption Unit and the Securities Division of the Maryland Office of the Attorney General. Attorney General Brown commended the team for their work in holding Camara accountable, highlighting the importance of protecting Maryland residents from financial fraud.
“This sentence should serve as a warning to others who seek to exploit vulnerable individuals for personal gain,” Brown added.
Camara’s conviction follows a thorough investigation that uncovered his illegal activities, including the unauthorized management of investment funds and the theft from a client who trusted him to help manage her financial future.
