SEC Judgment – Guillaume David Boccara


SEC secures judgment against investment professional Guillaume David Boccara accused of IIIegal Trading Scheme

(STL.News) On November 22, 2021, the U.S. District Court for the Northern District of Texas issued a final consent judgment against Guillaume David Boccara, an investment professional in Dallas, Texas. The SEC had recently accused Boccara of engaging in a deceptive business ploy in which he stole hundreds of thousands of dollars from a family fund whose money he was employed to manage and negotiate. To settle the charges against him, Boccara agreed to pay restitution and penalties in excess of $ 860,000 and consented to further injunctions.

According to the SEC complaint, filed on August 26, 2021, from January 2019 to at least June 2021, Boccara used his access to the family fund account to perform hundreds of transactions between the family fund and himself in order to generate over $ 500,000 in illicit profits. Boccara’s allegedly illegal transactions included buying options from the family fund, then reselling the same options at higher prices, buying options from the family fund, and then selling those options in the market. free for a profit, and selling worthless options to the family fund and pocketing the profit.

Without admitting or denying the allegations of the complaint, Boccara consented to the entry of the final judgment, which directs Boccara to violate the anti-fraud provisions of sections 17 (a) (1) and (3) of the Securities Act of 1933, section 10 (b) of the Securities Exchange Act of 1934 and rules 10b-5 (a) and (c) derived therefrom; prohibits Boccara from trading on any brokerage account held in the name of another person and from opening any additional brokerage account without first providing the brokerage company with a copy of the judgment; and orders him to pay restitution of $ 510,921 with pre-judgment interest, as well as a civil fine of $ 350,000.

In related administrative proceedings instituted on December 2, 2021, Boccara consented to the entry of a Commission order prohibiting it from any association with any broker, broker, investment advisor, municipal securities broker, municipal councilor, agent of nationally recognized transfer or statistical rating body. .

The SEC investigation was led by Jay A. Scoggins, Matthew O. Koop, Mandy B. Sturmfelz and Danielle R. Voorhees of the Market Abuse Unit and was overseen by the head of the Market Abuse Unit, Joseph G. Sansone. The SEC litigation was led by Terry R. Miller, Kenneth E. Stalzer and Matthew Gulde under the supervision of Gregory A. Kasper. The SEC appreciates the help of the Financial Industry Regulatory Authority.

Securities and Exchange Commission v. Guillaume David Boccara, n ° 3-21-cv-2022-M (ND Tx. Filed on August 26, 2021)

STL.News article – Administrative procedure – December 5, 2021

SOURCE: DRY


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