A former Lithia Springs financial adviser pleaded guilty Tuesday to wire fraud after federal prosecutors say he siphoned nearly $10 million from an elderly client and used the money to bankroll a multimillion-dollar lifestyle. Investigators say the embezzled funds paid for a $5.2 million house in Vinings, luxury vehicles and a beachfront vacation share. The guilty plea follows a separate civil enforcement action that already produced a seven-figure judgment and the court-ordered liquidation of his Atlanta home.
How prosecutors say he hid the theft
According to prosecutors, the scheme ran from 2022 to 2025, when the adviser, identified in filings as Ejiro Ode Okuma, gained control of the client’s accounts. After he was named administrator of the client’s sister’s estate, investigators say he began funneling assets into accounts he controlled.
Investigators allege that Okuma opened an unauthorized brokerage account, moved roughly $9 million in securities into it, set up login credentials and an email address to impersonate the client, and used forged signatures and check-writing to siphon cash to family-controlled accounts, according to Fox 5 Atlanta. The station’s reporting tracks the same steps regulators later laid out in a civil complaint and related court filings.
Assets and civil judgment
On the regulatory side, a final judgment entered in February requires Okuma to pay $13,055,051.53, including more than $9 million in disgorgement, roughly $1.03 million in prejudgment interest and a $3 million civil penalty, and directs relinquishment of his Atlanta residence for liquidation, per the SEC's court order. The SEC’s filings also describe millions spent on real estate, a downpayment on a $1.4 million beach property and luxury cars that investigators say were bought with misappropriated client funds. The SEC’s final judgment lists the relief and monetary amounts ordered by the court.
Criminal plea and what’s next
Okuma pleaded guilty to one count of wire fraud. Sentencing is scheduled for June 23, 2026, at 2 p.m. before U.S. District Judge Sarah E. Geraghty, according to court filings reported by Fox 5 Atlanta. U.S. Attorney Theodore S. Hertzberg called the case "the ultimate act of financial betrayal," and the FBI’s acting special agent in charge said Okuma "abused a position of trust to carry out a calculated scheme," the station reports.
Legal implications
Wire fraud is charged under 18 U.S.C. § 1343 and carries a statutory maximum sentence of 20 years in prison for each count. Judges use the federal sentencing guidelines to set the actual term, based on the loss amount and other factors, and fines and restitution are also possible. For the statutory language, see 18 U.S.C. § 1343 as published by Cornell Law School’s Legal Information Institute.
Why this matters
Crimes that target older Americans are a growing enforcement priority. Complaints to the FBI’s Internet Crime Complaint Center have risen, and IC3 reported more than $3.4 billion in losses by victims age 60 and older in 2023. Cases that allege trusted advisers converted client funds highlight why regulators and law enforcement stress regular account reviews and rapid reporting when irregularities appear. The FBI and IC3 have published guidance and state-level data on elder fraud trends.
