Elder Financial Exploitation

Barred Equitable Advisors Broker Ejiro Ode Okuma, Accused of Stealing $9.8M From Older Investor, Is Ordered To Pay $13M

Published on: March 10, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Shepherd Smith Edwards and Kantas is investigating former Equitable Advisors representative Ejiro Ode Okuma, who was recently barred by the SEC and FINRA for allegedly misappropriating over $9.8M from an elderly client. The firm is now seeking to assist other potential victims of Okuma’s misconduct in recovering losses resulting from senior financial exploitation and a failure of supervision by his former brokerage firms.

Our Elder Financial Abuse Attorneys Are Investigating

Shepherd Smith Edwards and Kantas (investorlawyers.com) is looking into allegations of senior financial exploitation against former Equitable Advisors registered representative Ejiro Ode Okuma. Also an investment adviser with the firm, Okuma was barred by the US Securities and Exchange Commission (SEC) last month and by the Financial Industry Regulatory Authority (FINRA) in December 2025. He has agreed to pay more than $13M, including over $9M in disgorgement, more than $1M in prejudgment interest, and a $3M civil penalty to settle the SEC charges.

Shepherd Smith Edwards and Kantas Investigates Barred W&S Brokerage Services Broker Ronald Daley

Published on: January 26, 2026 | by Shepherd Smith Edwards & Kantas, LLP

Ohio Financial Advisor Is Sentenced to Prison Over an 8-Year Fraud Scam

If you suffered serious investment losses while working with former W & S Broker Services stockbroker Ronald Scott Dailey, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today. The barred financial advisor was sentenced to 54 months in prison after he pleaded guilty to wire fraud and tax evasion connected to an eight-year scam that cost his victims hundreds of thousands of dollars.

Among the allegations made against him was that he would convert clients’ funds taken out of fixed annuities and life insurance. He would have them move the money to a bank account that he controlled, defrauding at least three victims of over $707,000, which he was ordered to pay in restitution. He also must pay the IRS almost $212,000.

When Banks Fail To Protect Older Seniors From Elder Financial Abuse

Published on: January 6, 2026 | by Shepherd Smith Edwards & Kantas, LLP

When Banks Fail To Protect Older Seniors From Elder Financial Abuse

86-Year-Old Grandmother Sues Merrill Lynch, UBS, and TD Bank Over Loss of $700,000 in Life Savings in Fraud Scam

Shepherd Smith Edwards and Kantas Elder Financial Exploitation attorneys (investorlawyers.com) represent seniors who have suffered losses because of elder financial abuse. Banks, brokerage firms, and investment advisers are supposed to protect investors from becoming the victims of fraud. It is no secret that elderly seniors, especially those with cognitive impairments, can be especially vulnerable to scammers. Elder financial abuse reportedly costs older Americans about $28B a year.