According to reports, 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.
The White Law Group continues to investigate whether there are additional victims. For more information on the firm’s investigation, visit https://www.whitesecuritieslaw.com/2019/07/23/marcus-boggs-broker-investigation/.
For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
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