The SEC Alleges that Former Merrill Lynch Marcus Boggs Misappropriated Investor Funds
Our investment fraud attorneys are currently reviewing claims involving former Merrill Lynch securities representative Marcus Boggs. We advocate for investor rights nationwide. For a free, strictly confidential initial consultation, please contact us today or call 866–827–3202.
Marcus Boggs (CRD#: 5055667) is a previously licensed securities broker and registered investment advisor (RIA). From 2006 to 2018, Mr. Boggs was employed at Merrill Lynch in Chicago, Illinois.
In December of 2018, he was terminated by Merrill Lynch after allegations arose that he had misappropriated client funds. In January of 2019, FINRA barred Marcus Boggs from the industry after he declined to cooperate with a regulatory investigation into the allegations of broker theft.
SEC Charges: Former Merrill Lynch Broker Marcus Boggs
In August, the Securities and Exchange Commission (SEC) filed charges against Marcus Boggs alleging that he stole more than $1.7 million from at least three different clients. Specifically, the SEC contends that Mr. Boggs made approximately 200 unauthorized wire transfers — sending money from customer accounts directly to his own American Express account.
Notably, two claims related to this broker’s misconduct have already been settled. One claim was settled for $801,121.51 and the other was settled for $3,795,507.61. In both cases, the Merrill Lynch investors brought the claims after determining that Mr. Boggs had made unapproved wire transfers out of their account.
The Sonn Law Group is investigating former Chicago-based Merrill Lynch securities broker Marcus Boggs. We represent investors in claims against brokers and brokerage firms. To get a free review of your case, please call us at 866–827–3202 or fill out our online contact form.