Mark Boucher (CRD #2187695), an investment advisor registered with Strategic Wealth Advisors Group Services Inc., is the subject of an SEC Complaint. (Mr. Boucher is also a previously registered broker.) The Complaint alleges that he stole millions of dollars from clients and forged a letter to make it look like a client gifted him $1.5 million, according to his BrokerCheck record, accessed on September 17, 2020. This is only the tip of the iceberg — see below for more details on the SEC’s allegations, as well as more important information about his employment history.
On August 25, 2020, the SEC filed a Complaint alleging Mark Boucher had set up fraudulent schemes that spanned multiple years. His schemes allegedly involved two separate firms as well as his one-person company, Strategic Wealth Advisors Group (SWAG). Between December 2010 and July 2020, Mark Boucher misappropriated over $2 million from the advisory bank accounts of three of his investment advisory clients including a widow in her 60s. Mr. Boucher used SWAG to try to hide his deception. He registered SWAG as an investment adviser firm without disclosing that he had been fired from a firm for allegedly stealing client funds.
- Client A: Mr. Boucher forged certain checks in his client’s name and impersonated her over the phone in order to make a fraudulent wire transfer. He also allegedly sold her securities and took the proceeds for himself, which he used to pay his credit card debt. In total, he allegedly misappropriated about $669,000. Eventually his member firm discovered the alleged fraud and fired him.
- Client B: In March of 2017, Mark Boucher allegedly sold securities and wired $60,000 of the sales proceeds from a client’s advisory account to a car dealership in order to purchase himself a Camaro. To authorize the wire transfer, Mr. Boucher impersonated Clint B on a telephone call.
- Client C: After termination following his alleged scheme with Client A, Mark Boucher allegedly developed a scheme to steal from the trust fund of recently deceased Client C. Before Client C passed away in August 2019, she created a revocable trust document that provided for the disposition of assets upon her death. Mr. Boucher was a successor trustee and an investment advisor for the trust. Upon the client’s death, the trust assets comprised $1.8 million in securities and cash. Between August 2019 and July 2020, Mr. Boucher misappropriated $1.5 million by sending cash and securities from trust accounts to accounts he controlled, including his checking account. Mr. Boucher allegedly used the money to pay off his credit card debt.
Mark Boucher also allegedly took steps to conceal his deception from SEC enforcement staff, by creating accounts to hide the funds he stole from Client C’s trust. He allegedly created a forged letter from Client C to create the impression she had gifted him $1.5 million.
On January 24, 2020, a client alleged Mark Boucher engaged in forgery and theft. The client sought $542,444.83; the dispute settled for that exact amount.
On May 22, 2019, Mr. Boucher was fired from SCF Investment Advisors Inc. following allegations that he had admitted to misappropriating customer funds to pay various credit card companies.
Mark Boucher has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 31 Futures Managed Funds Examination, the Series 7 General Securities Representative Examination, the Series 6 Investment Company Products/ Variable Contracts Representative Examination, and the Series 24 General Securities Principle Examination. He is registered as an investment adviser in California and Texas.
During his 28 years of experience, Mr. Boucher has worked at the following firms:
- SCF Investment Advisors, Inc. (CRD #: 123608)
- Northwest Asset Management (CRD #: 147923)
- Raymond James Financial Services Advisors, Incorporated (CRD #: 149018)
- Raymond James Financial Services (CRD #: 6694)
- Linsco/ Private Ledger Corp. (CRD #: 6413)
- NyLife Securities Incorporated (CRD #: 5167)
- Pruco Securities Corporation (CRD #: 5685)
- The Prudential Insurance Company of America (CRD #: 680)
If Mark Boucher was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.