Mark Boucher, Formerly of Raymond James Financial Services, Charged by SEC with Fraud

Boucher is accused of stealing over $2M from retail investors.

The Sonn Law Group is investigating allegations that Mark Boucher committed fraud. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Mark Boucher (CRD#: 2187695) and his company, Strategic Wealth Advisor Group Services Inc. (“SWAG”) were charged by the SEC with misappropriating more than $2.2 million from advisory clients. 

The SEC’s complaint alleged that from 2010 to 2020, Boucher made unauthorized transfers from client accounts to his own accounts, used client funds to pay his credit card bills, and forged a client’s signature on checks. 

Additionally, Boucher allegedly used a significant portion of the misappropriated funds to pay for his extravagant personal expenses, including vacations and travel. In one instance, Boucher purportedly misappropriated funds from a client to purchase a Chevrolet Camaro, and then, over a year later, sold the car to the client. Boucher even allegedly attempted to conceal his misappropriations by forging a letter, purportedly from a client from whom Boucher misappropriated over $1.5 million in trust funds, in an attempt to convince SEC staff that the client had gifted him the funds a few days before the client died.

The SEC’s complaint, filed in the United States District Court for the Southern District of California, charges Boucher and SWAG with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and (2) of the Investment Advisers Act of 1940. The SEC is seeking permanent injunctions, disgorgement plus prejudgment interest, and civil penalties.

Boucher has four other disclosures on his BrokerCheck report.

January 2020 Customer Dispute

• Status: Settled
• Allegations: Client alleges theft/forgery
• Damage Amount Requested: $542,444.83
• Settlement Amount: $542,444.83

May 2019 Employment Separation After Allegations

• Firm Name: SCF Investment Advisors, Inc.
• Termination Type: Discharged
• Allegations: Advisor admitted to misappropriating customers funds to pay various credit card companies. The customer has been made whole.

October 1999 Customer Dispute

• Status: Denied
• Allegations: In a letter dated 10/14/1999, the customer alleges that when she purchased a variable annuity policy in March 1997, she was told there would be no surrender charge after the sixth year. She states that the policy, in fact, has a nine-year surrender charge period, and that she “would never have bought this policy had (she) known that.” The customer requests that the policy be “corrected.”
• Damage Amount Requested: $36,5000.00
• Broker Comment: Upon review of policy records and data, the company did not find sufficient evidence to support the customer’s claims. No compensation has been offered to the customer.

April 1995 Employment Separation After Allegations

• Firm Name: The Prudential Insurance Company of America
• Termination Type: Voluntary Resignation
• Allegations: Not provided that I replaced 2 life insurance policies of Prudential clients.
• Broker Comment: No evidence of wrongdoing. Upon deciding to leave Prudential, I replaced my life insurance and my then wife’s life insurance. With the new U-4 page 3 questions, I do not feel any questions apply.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Mark Boucher committed fraud. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.