The SEC has barred a former Merrill Lynch financial advisor discharged over allegations of withdrawing client funds without their knowledge and using them to pay off his credit card, the regulator says.

From 2016 to 2018, Marcus Boggs allegedly sold securities in at least three of his advisory clients’ accounts without their knowledge and then made at least 200 illegal transfers of the proceeds to his personal credit card, according to an administrative proceedings document published by the SEC. In all, Boggs allegedly stole more than $1.7 million, the regulator says.

Boggs managed more than $40 million for more than 70 clients, the SEC said in its complaint filed in February. He also regularly appeared at fundraising events for cultural institutions and was active with philanthropies “to present himself as a socially-minded financial professional, mingle with wealthy individuals, and have a platform for meeting potential clients,” the SEC said.

Boggs had spent his entire 12 years in the financial services industry with Merrill Lynch when the wirehouse discharged him in 2018 over allegations that he withdrew funds from clients’ accounts without their knowledge or authorization, according to BrokerCheck.

Finra barred Boggs from the industry in January 2019 for failing to respond to requests for information, according to the industry’s self-regulator.

Last week, Boggs agreed to the SEC’s bar without admitting or denying the finding, the regulator says.

Boggs is still facing an investigation from the U.S. Attorney’s Office for the Northern District of Illinois, according to BrokerCheck.

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