Marcus E. Boggs is a previously registered broker and investment advisor who worked for Merrill Lynch for 12 years before being discharged after allegations in 2018. Mr. Boggs has 13 different disputes on his BrokerCheck profile.
In November 2018, a client alleged that there were unauthorized transfers made to an American Express account from the customer’s investment account. This settled for $1,005,169.59 in damages. Boggs was separated from Merrill Lynch after this dispute.
Two more allegations of transfers to an American Express account from client accounts came in December of 2018, these two allegations settled for a combined $4,597,629.12.
Also in December 2018, Merrill Lynch proactively reached out to a client and presented them with possible fraudulent withdrawals from their account. The client confirmed the charges of $133,285.82 were not authorized. This allegation settled for a total of $323,162.22 in damages.
FINRA barred Mr. Boggs in all capacities in April 2019 after he failed to request termination of his suspension within three months of the Notice of Suspension. He was automatically barred from association with any FINRA member in all capacities.
Merrill Lynch reached out to another client in February 2019 and presented them with possible fraudulent withdrawals amounting to $545,813.21, the client confirmed these charges were not authorized and this allegation settled for $1,101,660.29 in damages.
A Civil case against Boggs alleges he stole more than $1.7 million from at least three of his clients from 2016-2018. Without the client’s knowledge of authorization, Boggs misappropriated his clients’ money by selling securities in their accounts and then transferring the proceeds to his personal credit card account. Boggs made more than 200 illegal transfers from three clients to pay for his “massive credit card purchases.”
Mr. Boggs also has pending felony criminal charges against him for violating Title 18, United States Code, Section 1343 Amended.
In 2020, the Firm reached out to two more clients to check on possible fraudulent withdrawals, the clients confirmed that these were not authorized. Both of these allegations settled for a combined $543,566.95 in damages.
If you were a client of Marcus Boggs and suffered losses, had any money improperly withdrawn or misappropriated, or received bad or unsuitable investment advice, you may have a legal right to assert a claim to recover damages.
What Our Clients Say
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At a time in our life when we were most vulnerable we lost control of our finances. We fell victim to a broker that took huge commissions and did not disclose that we were not able to access our money. Peter Mougey and his wonderful staff worked with us to make us whole again and got our money released. I cannot say enough about their work ethic, professionalism, and kindness during this stressful time for us. We had a 100% positive conclusion to our case and we strongly recommend Peter and the firm. We can now sleep at night! Fred & Pat H.
My husband and I were very pleased with the work that Peter and his team provided. He was very knowledgeable of the circumstances of our case and kept us informed throughout the process. He is extremely qualified and worked diligently on our behalf. We are positive that this case would not have been resolved in our favor had it not been for Peter's expertise and his passion. He definitely cares about his clients and we sincerely appreciate his efforts. Rachel C.
FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
Edison's famous adage can't ever be ignored of course: 1 part inspiration and 99 parts perspiration. However the two attitudes must be present indissolubly--both are essential--if results are to be obtained. Peter Mougey’s group is aware of such a requirement, they work very hard at the latter, and the former comes easily to them, a rare combination anywhere to be found indeed. Raphael B.
I would like to express my sincere gratitude to Peter Mougey and your entire team on behalf of my family for the amazing job done during your representation. From day one I received kindness, rapid responses to all of my questions, with polite and patient encounters with all of your staff assistants. You are the best- and I will be eternally grateful to you and your entire team. Michelle E.