SEC v. Ejiro Ode Okuma, No. LR-26474, Northern District of Georgia (Feb. 4, 2026) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26474 / February 4, 2026Securities and Exchange Commission v. Ejiro Ode Okuma, No. 1:26-cv-00561-MHC (N.D. Ga. filed Jan. 30, 2026)SEC Files Settled Action as to Georgia Investment Adviser for Allegedly Misappropriating Millions from Elderly ClientOn January 30, 2026, the Securities and Exchange Commission filed a settled action as to Georgia resident Ejiro Ode Okuma for allegedly breaching his fiduciary duties to an elderly investment advisory client and misappropriating more than $9.8 million of the client’s assets. Okuma agreed to pay more than $13 million to settle the charges.According to the SEC’s complaint, filed in the United States District Court for the Northern District of Georgia, in March 2022, Okuma began misappropriating the client’s assets as well as assets from the estate of the client’s recently deceased sister. The complaint alleges that in February 2023, Okuma, without the client’s knowledge or consent, opened a brokerage account for one of the client’s trusts and transferred in more than $9 million in securities from the client’s other accounts. While establishing the new brokerage account, Okuma allegedly took several steps to conceal his continuing misappropriation, including authorizing the use of check writing from the account, setting up the log-in credentials for the account so that he could access and control the account, and creating an e-mail account to electronically impersonate the client. As alleged, Okuma then misappropriated the client’s funds for his own benefit, including to build a multi-million-dollar residence, purchase vehicles, and buy vacation homes.The SEC’s complaint charges Okuma with violating Section 17(a)(1) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. Without denying the SEC’s allegations, Okuma agreed to the entry of a final judgment, subject to court approval, in which he agreed to be permanently enjoined from violating the charged provisions of the federal securities laws and from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales of securities listed on national exchanges in his own personal accounts, and to pay $9,025,424.89 in disgorgement with prejudgment interest of $1,029,626.64 and a civil penalty of $3,000,000.The SEC’s investigation was conducted by Kyle Bradley, Krysta Cannon, and H.B. Roback, and supervised by Thomas Bosch and Justin Jeffries, all of the SEC’s Atlanta Regional Office. The litigation is being led by H.B. Roback, under the supervision of M. Graham Loomis.

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26474 / February 4, 2026Securities and Exchange Commission v. Ejiro Ode Okuma, No. 1:26-cv-00561-MHC (N.D. Ga. filed Jan. 30, 2026)SEC Files Settled Action as to Georgia Investment Adviser for Allegedly Misappropriating Millions from Elderly ClientOn January 30, 2026, the Securities and Exchange Commission filed a settled action as to Georgia resident Ejiro Ode Okuma for allegedly breaching his fiduciary duties to an elderly investment advisory client and misappropriating more than $9.8 million of the client’s assets. Okuma agreed to pay more than $13 million to settle the charges.According to the SEC’s complaint, filed in the United States District Court for the Northern District of Georgia, in March 2022, Okuma began misappropriating the client’s assets as well as assets from the estate of the client’s recently deceased sister. The complaint alleges that in February 2023, Okuma, without the client’s knowledge or consent, opened a brokerage account for one of the client’s trusts and transferred in more than $9 million in securities from the client’s other accounts. While establishing the new brokerage account, Okuma allegedly took several steps to conceal his continuing misappropriation, including authorizing the use of check writing from the account, setting up the log-in credentials for the account so that he could access and control the account, and creating an e-mail account to electronically impersonate the client. As alleged, Okuma then misappropriated the client’s funds for his own benefit, including to build a multi-million-dollar residence, purchase vehicles, and buy vacation homes.The SEC’s complaint charges Okuma with violating Section 17(a)(1) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. Without denying the SEC’s allegations, Okuma agreed to the entry of a final judgment, subject to court approval, in which he agreed to be permanently enjoined from violating the charged provisions of the federal securities laws and from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales of securities listed on national exchanges in his own personal accounts, and to pay $9,025,424.89 in disgorgement with prejudgment interest of $1,029,626.64 and a civil penalty of $3,000,000.The SEC’s investigation was conducted by Kyle Bradley, Krysta Cannon, and H.B. Roback, and supervised by Thomas Bosch and Justin Jeffries, all of the SEC’s Atlanta Regional Office. The litigation is being led by H.B. Roback, under the supervision of M. Graham Loomis.