ATLANTA — A former investment advisor has pleaded guilty to defrauding an elderly client out of nearly $10 million in a years-long scheme, federal prosecutors announced.
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Eijroghene Okuma, 43, of Lithia Springs, pleaded guilty to one count of wire fraud.
Prosecutors say Okuma carried out the scheme over three years, exploiting the trust of a client he was responsible for advising and protecting.
“This was the ultimate act of financial betrayal,” said U.S. Attorney Theodore S. Hertzberg. “Instead of abiding by his fiduciary obligations, Okuma exploited an elderly man’s trust and stole millions.”
According to officials, Okuma worked as a financial advisor with Edward Jones from 2010 through May 2023 and had full access to the victim’s brokerage accounts. The victim, identified only as “Victim-1,” was born in 1944.
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The scheme began in 2022, when Okuma was appointed to help administer the estate of the victim’s sister. Prosecutors say he used that role to convince the victim to transfer large sums of money under false pretenses, claiming the estate needed funds.
Instead, authorities say Okuma redirected the money into accounts he controlled, including one tied to his wife’s company.
After initially stealing nearly $1 million, authorities say Okuma escalated the scheme by creating fraudulent accounts without the victim’s knowledge.
In early 2023, Okuma opened an unauthorized brokerage account using the victim’s personal information and a fake email address. He then added himself to a bank account in the victim’s name, giving him full access to withdraw funds.
Within weeks, prosecutors say Okuma transferred about $9 million from the victim’s accounts into the fraudulent account.
Between August 2023 and March 2025, he allegedly drained those funds through checks and electronic transfers to accounts controlled by him and his wife.
Authorities say Okuma used the stolen money to fund a lavish lifestyle, including building a $5.2 million home in Vinings, purchasing a $1.4 million fractional share of a beach house, joining a beach club, and donating hundreds of thousands of dollars to his church.
“Okuma abused a position of trust to carry out a calculated scheme that stole millions from an elderly victim,” said FBI Atlanta Acting Special Agent in Charge Peter Ellis.
Okuma is scheduled to be sentenced on June 23.
In a related civil case, the Securities and Exchange Commission has already secured a judgment against Okuma requiring him to pay more than $13 million in penalties and restitution.
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