FINRA Bars Marcus Boggs After $5.6M In Unauthorized Funds Transfers

Marcus E. Boggs (CRD#: 5055667) is a former registered broker and investment advisor whose last broker dealer employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Chicago, IL, from 2/7/2006 through 12/18/2018. No current or additional employment information is available.

Marcus Boggs is the subject of five disclosures. Three customer disputes were filed on 11/21/2018, 12/16/2018 and 12/17/2018, all alleging unauthorized ACH transfers of funds into an American Express account, totaling $5,601,758.71.

After the filing of the first customer dispute alleging an unauthorized transfer of funds on 11/21/2019, Boggs was discharged from Merrill Lynch on 12/10/2018 following an internal investigation. Two more customer disputes with the same allegations followed.

After reporting his termination, FINRA subsequently sent Boggs letters requesting information regarding the allegations. After failing to respond to two letters dated 1/11/2019 and 2/4/2019, FINRA suspended Boggs. He did not respond to the letters, and failed to request termination of his suspension. FINRA barred Boggs indefinitely and in all capacities effective 4/15/2019.

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