The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Marcus Boggs. According to his publicly available FINRA BrokerCheck report, Marcus Boggs has been the subject of multiple customer disputes.
Marcus Boggs was an Illinois based securities broker. He worked in the securities industry for twelve years. He spent his entire career registered with Merrill Lynch. He is no longer working as a registered securities broker in any fashion.
According to findings released by the United States Securities and Exchange Commission in August 2019, Marcus Boggs stole over $1.7 million from multiple customers. He allegedly executed unauthorized trades in their accounts and misappropriated the recently liquidated assets to pay off his personal credit card. Boggs made over 200 of these illegal transfers from these customer accounts. These customers all filed complaints against Merrill Lynch due to the alleged actions of Marcus Boggs.
- Complaint filed on November 21st, 2018 was settled for $1 million in damages.
- Complaint filed on December 16th, 2018 was settled for approximately $800,000 in damages.
- Complaint filed on December 17th, 2018 was settled for approximately $3.8 million in damages.
- Complaint filed on December 19th, 2018 was settled for $275,413 in damages.
- Complaint filed on February 11th, 2019 was settled for $930,778 in damages.
- Complaint filed on January 13th, 2020 was settled for approximately $500,000 in damages.
Due to these alleged actions, Marcus Boggs was terminated from his position at Merrill Lynch. He was barred from acting as a securities broker in any fashion by both the SEC and FINRA. He is currently facing pending criminal charges due these allegations of theft.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Marcus Boggs, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.