William Walter Leboeuf (also known as Bill Le Boeuf), of Beavercreek, Ohio, a stockbroker registered with Cetera Adviser Networks LLC, has been suspended by the state of Ohio because Leboeuf engaged in an undisclosed outside business activity and engaged in private securities transactions. Order No. 22-007 (May 18, 2022).
This is not the first time that Leboeuf has been the subject of a regulatory action concerning Leboeuf’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Leboeuf has been fined $12,500.00 and suspended for 12 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Leboeuf engaged in private securities transactions. Letter of Acceptance, Waiver, and Consent No. 2019064823601 (November 23, 2021).
According to the AWC, LeBoeuf used his own email to encourage a customer to put money in a real estate fund. He encouraged other investors, including some from his firm, to put money in a loan that could be converted into a software company’s shares. He sent emails detailing the opportunity and suggesting how much they should invest. To make investments in the software company, LeBoeuf established a limited liability company and made sure the investment funds were electronically transmitted to the software company. Three customers collectively invested $750,000.00 in the software company’s convertible loan.
Also, the stockbroker dishonestly claimed on yearly compliance checks that he did not use any private device to interact with customers using software that the securities broker dealer did not authorize.
The AWC stated that LeBoeuf registered another LLC in Ohio too. LeBoeuf was the member, sole manager, tax representative, and bank signatory.
FINRA also stated that LeBoeuf’s communications to prospective investors for the software company didn’t give them enough information to fully understand the investment’s possible risks and benefits. He sent a company overview to investors, including some firm customers, which did not clearly explain the risks of the investment not being easily sold or of potential losses. Also, the overview did not state the hurdles, limitations, restrictions, or assumptions concerning revenue projections.
Therefore, LeBoeuf violated FINRA Rules 2010, 3270, 3280, and 2210.
LeBoeuf was associated with Cetera Adviser Networks LLC as a stockbroker from March 28, 2019, to December 5, 2019.
