SEC Bars Ejiro Ode Okuma for Fraud and Misappropriation

SEC Administrative Proceedings (RSS)

Filed February 25th, 2026

Detected February 26th, 2026

Email Set alert

Summary

The SEC has barred Ejiro Ode Okuma from associating with any regulated entity following findings of fraud and misappropriation of over $9 million from a client. A final judgment was entered against Okuma, permanently enjoining him from future violations of securities laws.

View original document View source feed page

What changed

The Securities and Exchange Commission (SEC) has issued an order barring Ejiro Ode Okuma from the securities industry. This action follows a final judgment entered against Okuma, permanently enjoining him from violating key provisions of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940. The SEC's complaint alleged that between 2022 and 2025, Okuma misappropriated over $9 million from an elderly client while acting as an investment adviser, engaging in conduct that operated as a fraud and deceit.

This enforcement action means Okuma is prohibited from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. Any future application for reentry into the industry will require approval from the appropriate self-regulatory organization. This serves as a strong warning to investment professionals regarding their fiduciary duties and the severe consequences of fraud and misappropriation.