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The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of misconduct by securities broker Mark Boucher (CRD#: 2187695, Carlsbad, California). Namely, on Boucher’s FINRA BrokerCheck report, there are two investor disputes indicating that he did something really bad. We can also see that two investment firms disaffiliated with him on bad terms. Let’s take a closer look at these disclosures.

Raymond James Client Indicates Mark Boucher Committed Theft, Forgery

Evidently, a client of Raymond James Financial Services complained about Mark Boucher on January 24, 2020. Namely, the client alleged that Boucher committed “theft”. This means that he might have stolen or misused the client’s investment funds. Also, the client indicated that Boucher committed “forgery”. This means that Boucher might have signed the customer’s name on securities account documents without permission. Evidently, Raymond James made a $542,444.83 payment to the customer according to a January 24, 2020 settlement.

NYLife Securities Client Indicates That Boucher Misrepresented Surrender Charge

Evidently, a client of NYLife Securities also complained about Mark Boucher. It appears that Boucher sold the client a variable annuity years ago. However, Boucher allegedly misrepresented the surrender charge (the cost of liquidating the policy). Supposedly, there was a nine year surrender charge, causing a suitability issue for the client. Apparently, NYLife Securities denied the claim.

SCF, Prudential Disaffiliate With Mark Boucher

Notably, SCF Investment Advisers disaffiliated with Mark Boucher in May 2019 over bad terms. Namely, the firm claimed that he admitted to misappropriating client funds. Allegedly, Boucher misused client money by paying his credit cards. Evidently, Boucher used to be affiliated with Prudential, who allowed him to voluntarily resign amid concerns of his misconduct. It appears that Boucher did not indicate that he made replacements of Prudential clients’ life insurance policies.

Losses From Boucher?

Have you experienced losses by investing with Mark Boucher? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of financial advisors and securities brokers like Boucher.