Broker William LeBoeuf Suspended Over Private Securities Transactions

William LeBoeuf (CRD#: 2464080, aka “William W. Le Boeuf,” “Bill LeBeouf,” “William Walter LeBeouf”) is a former broker and investment adviser whose last known employer was Cetera Advisor Networks LLC (CRD#:13572) of Beavercreek, OH. His previous employer employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Miamisburg, OH, Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Dayton, OH.  He has been in the industry since 1994.

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?

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