CHICAGO — A Chicago financial adviser on his way to Germany has been arrested at an airport and charged with defrauding clients, including a man who was wrongly convicted and awarded millions of dollars.
Marcus Boggs appeared in federal court Monday. A judge declined to release the former Merrill Lynch adviser, who had a one-way ticket. Boggs’ attorney argued that his medical needs might not be addressed while in jail.
The criminal complaint against Boggs says he managed money for Shainnie Sharp after the man was exonerated in the 1991 rape and murder of a 14-year-old girl in suburban Chicago. He had served 10 years in prison.
Investigators say Sharp was told last year that the money was depleted. The government says Boggs used it to make more than $800,000 in credit card payments.
Merrill Lynch tells the Chicago Tribune that Boggs was fired in December and any victims were repaid.