SMYRNA, Ga. — A Georgia financial adviser who defrauded an elderly client out of nearly $10 million will spend more than seven years in federal prison.
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Ejiroghene O. Okuma, 44, of Smyrna, was sentenced September 11 to seven years and four months in prison, followed by three years of supervised release. He pleaded guilty to one count of wire fraud in March.
According to federal prosecutors, Okuma was an investment adviser who had complete access to an elderly client’s brokerage account beginning in 2016.
In 2022, Okuma was appointed to administer the estate of the client’s sister. Prosecutors said he then falsely told the client that the estate needed money.
The client allowed Okuma to transfer $500,000 to a bank account purportedly held for the estate. Okuma instead transferred the money to an account belonging to his wife’s company, prosecutors said.
He later stole about another $400,000, including money the client was deceived into paying for the estate and proceeds from the sale of the sister’s home.
Prosecutors said Okuma then set up fraudulent accounts to steal millions more.
In February 2023, he opened an unauthorized brokerage account involving a revocable trust associated with the victim. He also opened a bank account in his own name and added himself as a custodian to an existing account in the victim’s name.
Within days, prosecutors said, Okuma transferred about $9 million from the victim’s brokerage accounts into the fraudulent account without the victim’s knowledge.
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Between August 2023 and March 2025, Okuma moved the money through other accounts he controlled and used it for personal expenses, including:
- A $5.2 million residence in Vinings
- An approximately $1.4 million beach club membership
- About $340,000 in donations to his church
Restitution will be determined at a hearing scheduled for a later date.
“Under the guise of acting as a financial adviser, Okuma abused the trust placed in him by an elderly client,” U.S. Attorney Theodore S. Hertzberg said. “His sentence should send a clear message to fiduciaries who may be tempted to steal: we will seek lengthy prison sentences to punish those who exploit vulnerable citizens to line their own pockets.”
The case was investigated by the FBI with assistance from the Securities and Exchange Commission.
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