This case was last updated from PACER on 08/28/2021 at 08:22:19 (UTC).

United States Securities and Exchange Commission v. Boccara

Case Summary

On August 26, 2021, the United States Securities and Exchange Commission (the “Plaintiff” or the “SEC”), represented by Kenneth Edward Stalzer, Matthew J. Gulde, and Terry Ryan, filed a civil enforcement action against Guillaume David Boccara (“Boccara'' or “Defendant”), seeking injunctive relief, disgorgement of all ill-gotten gains, and prejudgment interest and civil penalties for allegedly engaging in a fraudulent scheme. This case was filed in the U.S. District Court in the Northern District of Texas with Judge Barbara M. G. Lynn presiding.

 

In its complaint, the Plaintiff alleged that, “From at least January 2019 through June 2021, Boccara stole over a half-million dollars from a family-owned fund whose money and securities he was employed to manage. Boccara misappropriated this money through a brazen and deceptive options trading scheme in which Boccara used his control over his employer’s trading account to generate illicit profits in his own personal trading account. During this multi-year period, Boccara orchestrated hundreds of trades between the family fund and his own account, trading at prices, which he set, that were favorable to himself and unfavorable to the family fund.”

 

The Plaintiff further alleged that, “Boccara’s deceptive trading took three primary forms, all of which required him to exercise control over the family fund’s account. In some instances, Boccara caused the family fund to sell him options at low prices, and then caused the fund to purchase the same options back at higher prices, generating a quick profit in his personal account. In other instances, Boccara generated illegal profits by purchasing options on the open market and unloading them on the family fund at inflated prices or purchasing options from the fund at depressed prices and then selling them on the open market. Finally, Boccara sometimes sold worthless options to the family fund and pocketed the profit.”

 

The Plaintiff further alleged that, “In short, Boccara misappropriated money from the family fund using the fraudulent options trading to obscure the theft and evade detection. Over the course of the scheme, Boccara extracted over $500,000 from the family fund through his illegal trades.”

 

There are two claims for relief laid down by the Plaintiff. The first claim deals with the alleged violation of section 17(a)(1) and 179(a)(3) of the Securities Act. The second claim is for alleged violation of section 10(b) of the Exchange Act and Rule 10b-5(a) and (c).

 

In its prayer for relief, the Plaintiff has requested the Court for an injunction, permanently restraining and enjoining the Defendant, along with disgorgement of all ill-gotten gains and pre-judgment interest along with the payment of civil monetary penalties pursuant to section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and section 21(d)(3) of the Exchange Act [15 U.S.C. § 78u(d)(3)] or any other relief that the Court deems just, equitable and proper.

 

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    3:21-CV-02022

  • Filing Date:

    08/26/2021

  • Case Status:

    Pending - Other Pending

  • Case Type:

    Finance - Security/Commodity/Exchange

Judge Details

Presiding Judge

Barbara M. G. Lynn

 

Party Details

Plaintiff

United States Securities and Exchange Commission

Defendant

Guillaume David Boccara

Attorney/Law Firm Details

Plaintiff Attorneys

Matthew J Gulde-SEC

Attorney at US Securities and Exchange Commission

801 Cherry Street, Suite 1900, Unit # 18

Fort Worth, TX 76102

Kenneth Edward Stalzer

Attorney at US Securities and Exchange Commission

1961 Stout St, Suite 1700

Denver, CO 80294-1961

Terry Ryan Miller

Attorney at US Securities and Exchange Commission

1961 Stout St, Suite 1700

Denver, CO 80294-1961

 

Court Documents

14 #1

Proposed Order

#14

(#14) MOTION for Order to Show Cause and other Equitable Relief filed by United States Securities and Exchange Commission with Brief/Memorandum in Support. (Attachments: #1 Proposed Order) (Gulde-SEC, Matthew) (Entered: 08/27/2021)

#12

(#12) Summons Issued as to Guillaume David Boccara. (axm) (Entered: 08/26/2021)

#11

(#11) CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

#10

(#10) Application for Admission Pro Hac Vice with Certificate of Good Standing for Attorney Kenneth E. Stalzer (Clerk Note: Filer states no fee is to be collected due to prior payment or waiver by MO 16 or prior order.) filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

#9

(#9) Application for Admission Pro Hac Vice with Certificate of Good Standing for Attorney Terry R. Miller (Clerk Note: Filer states no fee is to be collected due to prior payment or waiver by MO 16 or prior order.) filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

#7

(#7) NOTICE of Ruled 65(b)(1)(A) Certification of Kenneth E. Stalzer filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

#2

(#2) COMPLAINT WITH JURY DEMAND against Guillaume David Boccara filed by United States Securities and Exchange Commission. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms, instructions, and exemption information may be found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. (axm) (Entered: 08/26/2021)

#1

(#1) New Case Notes: A filing fee is not due for this case. Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge (Judge Horan). Clerk to provide copy to plaintiff if not received electronically. (axm) (Entered: 08/26/2021)

 

Docket Entries

  • 08/27/2021
  • View Court Documents
  • Docket(#14) MOTION for Order to Show Cause and other Equitable Relief filed by United States Securities and Exchange Commission with Brief/Memorandum in Support. (Attachments: #1 Proposed Order) (Gulde-SEC, Matthew) (Entered: 08/27/2021)

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  • 08/26/2021
  • View Court Documents
  • Docket(#12) Summons Issued as to Guillaume David Boccara. (axm) (Entered: 08/26/2021)

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  • 08/26/2021
  • View Court Documents
  • Docket(#11) CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

    Read MoreRead Less
  • 08/26/2021
  • View Court Documents
  • Docket(#10) Application for Admission Pro Hac Vice with Certificate of Good Standing for Attorney Kenneth E. Stalzer (Clerk Note: Filer states no fee is to be collected due to prior payment or waiver by MO 16 or prior order.) filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

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  • 08/26/2021
  • View Court Documents
  • Docket(#9) Application for Admission Pro Hac Vice with Certificate of Good Standing for Attorney Terry R. Miller (Clerk Note: Filer states no fee is to be collected due to prior payment or waiver by MO 16 or prior order.) filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

    Read MoreRead Less
  • 08/26/2021
  • View Court Documents
  • Docket(#7) NOTICE of Ruled 65(b)(1)(A) Certification of Kenneth E. Stalzer filed by United States Securities and Exchange Commission. (axm) (Entered: 08/26/2021)

    Read MoreRead Less
  • 08/26/2021
  • View Court Documents
  • Docket(#2) COMPLAINT WITH JURY DEMAND against Guillaume David Boccara filed by United States Securities and Exchange Commission. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms, instructions, and exemption information may be found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. (axm) (Entered: 08/26/2021)

    Read MoreRead Less
  • 08/26/2021
  • View Court Documents
  • Docket(#1) New Case Notes: A filing fee is not due for this case. Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge (Judge Horan). Clerk to provide copy to plaintiff if not received electronically. (axm) (Entered: 08/26/2021)

    Read MoreRead Less
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