On February 6, 2026, the SEC settled charges against Ode Okuma for $13 million in alleged theft and securities fraud. He is alleged to have victimized his Equitable Advisors investors.
The SEC alleges that Okuma stole funds from an 81-year-old investor. He is also accused of stealing from the estate of the investor’s recently deceased sister. The allegations go on to state Okuma used the money for his personal benefit.
FINRA, the Financial Industry Regulatory Authority, barred Okuma in 2025. Okuma refused to provide information and documents requested pursuant to FINRA Rule 8210 in connection with an investigation into whether he converted funds of an elderly customer. This constitutes a forfeiture of his right to contest or defend against the charges. As a result, Okuma violated FINRA Rules, and FINRA barred Okuma from associating with any FINRA member in all capacities.
On September 17, 2025, FINRA began its investigation into allegations that Okuma stole funds of an elderly investor, FINRA sent a request to Okuma for the production of information or documents pursuant to FINRA Rules. Okuma refused to defend the claim.
Okuma worked for Equitable advisors at all relevant times. Stifel Financial sold Equitable and its advisors in October. The firm serves around 4,550 advisors managing $101 billion in assets according to media sources.
Jeffrey Pederson represents defrauded investors. Call today and speak to Jeffrey Pederson, and not a secretary or junior attorney.
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