Raymond James' Mark Boucher Criminally Charged in $2 Million Fraud

One year after the SEC first accused former Raymond James (Carlsbad, CA) broker Mark J Boucher of misappropriating $2.2 million from customers, federal prosecutors criminally charged Boucher with fraud. At the time of its investigation, SEC officials alleged that Boucher's scheme involved impersonating clients to facilitate fraudulent transactions such as an unauthorized wire transfer, forging checks in a client's name, lying through material omissions, and forging a letter from a dead client to make it appear as if the customer had bequeathed Boucher $1.5 million before passing away.

According to a San Diego Union-Tribune article regarding Boucher's indictment and not guilty plea, Mark Joseph Boucher (CRD #2187695) allegedly stole over $2 million from clients and spent the money on personal expenses, including vacations, luxury dinners, cars, and securities investments.

The article references Boucher's Strategic Wealth Advisors Group (SWAG), which Boucher allegedly operated in furtherance of the fraud.

Although Boucher's primary FINRA association was Raymond James Financial Services in Carlsbad, California, Boucher allegedly perpetrated the misconduct while associated with SCF Investment Advisors (Fresno, CA) as well as SWAG. SCF Investment Advisors terminated Boucher in 2019 after he purportedly admitted to misappropriating customer funds.

The present criminal filing alleges that Boucher obstructed investigations by submitting false and misleading documents to the SEC, as well as to the San Diego Superior Court when the justice system began seeking information. The SEC suit remains ongoing.