Eijroghene Okuma, a former investment advisor, pleaded guilty on Mar. 17 to one count of wire fraud after admitting to defrauding an elderly client out of nearly $10 million over three years.
The case highlights concerns about financial exploitation targeting older Americans and the importance of protecting vulnerable individuals from abuse by trusted professionals. The U.S. Attorney for the Northern District of Georgia serves as the principal federal law enforcement agency in the district, coordinating cases with nationwide and international dimensions and prioritizing prosecution of threats such as terrorism, human trafficking, civil rights violations, and financial crimes according to the official website.
U.S. Attorney Theodore S. Hertzberg said, “This was the ultimate act of financial betrayal. Instead of abiding by his fiduciary obligations, Okuma exploited an elderly man’s trust and stole millions. We will aggressively prosecute investment professionals who scheme to steal clients’ funds, rather than protect their financial interests.”
According to court information, Okuma began embezzling funds from his client in February 2022 after being appointed administrator for the estate of the client’s sister. He transferred large sums under false pretenses into accounts he controlled or that were linked to his wife’s company without the victim’s knowledge. By early 2023, Okuma had opened unauthorized brokerage accounts using fraudulent documents and continued transferring millions more from his client’s assets.
Acting Special Agent in Charge Peter Ellis said, “Eijroghene Okuma abused a position of trust to carry out a calculated scheme that stole millions from an elderly victim. The FBI is committed to protecting older Americans from financial exploitation and will continue working with our partners to ensure criminals who target seniors are held accountable.”
Okuma used stolen money for personal purchases including building a residence valued at $5.2 million in Vinings, Georgia; joining a beach club; buying a share in a beach house; and making significant donations to his church.
Sentencing is scheduled for June 23 before U.S. District Judge Sarah E. Geraghty. In addition to criminal proceedings, Okuma agreed in January 2026 to pay more than $13 million following a Securities and Exchange Commission action related to this scheme.
The U.S. Attorney for the Northern District of Georgia enforces federal criminal laws while collaborating with law enforcement agencies across north Georgia mountains, Atlanta suburbs, and bordering states—serving approximately 7.5 million residents according to its official website.
For resources on elder justice or reporting elder fraud victimization, readers can visit https://www.justice.gov/elderjustice or www.ovc.gov.
