A Massapequa financial adviser has been ordered by securities industry arbiters to pay more than $7 million to seven clients whose savings were squandered in risky investments.

A.G. Morgan Financial Advisors LLC and its key officers, Vincent J. Camarda and James E. McArthur, recently lost four arbitration cases brought by their clients, including two couples from Nassau County, according to arbitration documents and interviews.

Camarda, A.G. Morgan’s founder and CEO, and McArthur, its president and chief compliance officer, were suspended indefinitely from working in the securities industry last month by the Financial Industry Regulatory Authority . The suspensions came after Camarda and McArthur failed to pay the judgments handed down by FINRA arbitration panels.

Camarda appears to h

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