Marcus Boggs, Former Merrill Lynch Advisor – Fraud Charges
According to reports, former financial advisor Marcus Boggs was recently arrested by the FBI at O’Hare International Airport allegedly as he was boarding a flight to Germany with a one-way ticket.
Marcus Boggs, 49, a former senior financial adviser for Merrill Lynch in Chicago, was charged in a criminal complaint with one count of wire fraud alleging he stole more than $2 million in all from four clients. The charge carries up to 20 years in prison if convicted.
Merrill Lynch issued a statement stating that Boggs was terminated in December, shortly after the company detected the fraud.
The online database Brokercheck.org indicates that the company has paid a total of $5.6 million in compensation to three victims of Boggs.
According to his broker profiled, Boggs was reportedly registered with Merrill Lynch from February 2006 until December 2018.
Investigating Potential Lawsuits
The White Law Group continues to investigate whether there are additional victims. Click here for more information on the firm’s investigation. If you have suffered losses investing with former financial advisor Marcus Boggs, the securities attorneys at The White Law Group may be able to help you.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
The firm has handled more than 600 FINRA arbitration claims alleging claims for unsuitable investment recommendations, conversion, breach of fiduciary duty, selling away, fraud and other issues.