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SEC Files Petition Against Broker Mark Boucher For Misappropriation

Mark Boucher (Mark Joseph Boucher CRD#: 2187695) is a former registered broker and currently registered investment advisor currently registered with his own company, Strategic Wealth Advisor Group Services (SWAG) of Carlsbad, CA. Boucher is SWAG’s only employee. He provided investment advice to 50 clients, managing more than $12M in client funds. His most recent employer was SCF Investment Advisors, Inc. (CRD: 123608) of Fresno, Ca. Previous employers include Raymond James Financial Services, Inc. (CRD#:6694) of Carlsbad, CA, Linsco/Private Ledger Corp. (CRD#:6413) of Fort Mill, SC, and NYLIFE Securities Inc. (CRD#:5167) of New York, NY.Mark Boucher (Mark Joseph Boucher CRD#: 2187695) is a former registered broker and currently registered investment advisor currently registered with his own company, Strategic Wealth Advisor Group Services (SWAG) of Carlsbad, CA. Boucher is SWAG’s only employee. He provided investment advice to 50 clients, managing more than $12M in client funds.

His most recent employer was SCF Investment Advisors, Inc. (CRD: 123608) of Fresno, Ca. Previous employers include Raymond James Financial Services, Inc. (CRD#:6694) of Carlsbad, CA, Linsco/Private Ledger Corp. (CRD#:6413) of Fort Mill, SC, and NYLIFE Securities Inc. (CRD#:5167) of New York, NY.

Mark Boucher became registered as an investment advisor in both California and Texas in 2019, with a restricted approval in Texas. Both registrations are through Strategic Wealth Advisor Group Services. He has been in the industry since 1991.

Discharge And Customer Dispute

SCF Investments discharged Boucher on 5/22/2019 after he admitted to misappropriation of customer funds to pay credit card companies. The firm reimbursed the customer.

A customer filed a dispute on 1/24/2020 alleged theft and forgery with damages of $542,444.83. The claim was settled for the same amount. No additional information is available.

Fraud Against Clients

On 8/25/2020, the SEC filed a 19-page complaint with the US District Court in the Southern District of California. The petition details Boucher’s elaborate scheme under his company, SWAG, to defraud three of his investment clients and a trust funds from a deceased client. From December 2010 through July of 2020, he misappropriated roughly $2M from the clients and the trust fund, using the monies for multiple credit card bills, as well as:

  • Dinners at expensive restaurants
  • Over $80,000 for hotels, primarily five-star hotels in Hawaii
  • Thousands of dollars in airfare for multiple female companions to fly to San Diego or Hawaii
  • Car insurance
  • Rent payments for his personal residence
  • Other personal expenses

These misappropriations came in the form of unauthorized transfers as well as forged checks.

Camaro Purchase And Sale

On March 16, 2017, Boucher sold securities through SWAG and created a wire authorization form to send $60,000 as a wire transfer to a California car dealership to purchase a Camaro ZL1 for himself. While the client was tending to his dying mother, Boucher impersonated the client on a phone call and claimed to have authorized the transfer.

When the dealership questioned the source of the wire transfer, Boucher sent an email claiming that firm mistakenly sent the client’s name and that he was the source of the transfer. The dealership then completed the transaction and Boucher accepted delivery of the car in April of 2017.

When he noticed that his client admired the Camaro ZL1, Boucher offered to sell it to him for $52,000. The client accepted his offer and paid for the car, never realizing that Boucher committed fraud in order to buy the car. Boucher has never reimbursed the client for the $60,000.

Mark Boucher Trust Fund Fraud

In the case of the trust of the deceased client, Boucher liquidated and misappropriated a total of $1.5 million of funds and securities. He transferred funds to several new bank accounts he created in the trust’s name, then moved money to his personal account and paid credit card expenses from it. He also created a trust advisory account where he transferred securities bought with the trust funds, and transferred other funds to his personal brokerage account.

Boucher’s deceptions began to unravel when one client received a letter from American Express regarding the payment he’d made from her account. He repeatedly assured the woman, even after she became widowed, that her accounts were fine and that she could trust him, while he continued to withdraw funds from her account and sell securities monthly to pay his own credit card bills.

Afterwards, two of his employer firms began investigations ultimately leading to action by the SEC. Additional information on Boucher is available at the SEC’s website.

The SEC is requesting that the court order disgorgement by both Boucher and his company of all the monies misappropriated from his clients.

Did You Invest With Mark Boucher?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.

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