LeBoeuf has only two disclosures in his FINRA CRD. The first one is his termination from Cetera Advisor Networks on 11/21/2019. Cetera discharged him after discovering that he had violated firm policies by participating in private securities transactions without prior firm approval.
LeBoeuf had begun conducting these transactions separate from his previous employment with Merrill Lynch. He first solicited a firm client via his personal email account. LeBoeuf also emailed a presentation to his potential investors without clearly explaining the risks of the investment.
One client was also his family member and became an investor in a pooled real estate investment fund. Later, in 2019, while associated with Cetera, LeBoeuf participated in another private securities transaction by facilitating investments from three Cetera customers in a convertible promissory note issued by a software company. These people invested a total of $1,000,000 in the two securities.
At no time did LeBoeuf notify either Merrill Lynch nor Cetera of this activity, nor receive prior written approval to participate. LeBoeuf did not receive compensation for these transactions. There were also no customer complaints to either Merrill Lynch or Cetera related to these arrangements.
Additionally in 2019, LeBoeuf created, formed and became the sole manager of an LLC. The LLC was for pooling and making investments in the convertible promissory note. The monies wired to the LLC ensured that the investor funds were sent directly to the company.
Even though both Merrill Lynch and Cetera had written policies in place regarding outside business activities, LeBoeuf failed to obtain prior approval before becoming engaged with the arrangements.
Did You Invest With William LeBoeuf?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.