Efrain Balderrama Trujillo (CRD# 3106482) is a previously registered broker and investment advisor whose last known employer was Western International Securities, Inc. (CRD#:39262) of Los Angeles, CA. His previous employers were Financial West Group (CRD#:16668, expelled by FINRA on 2/13/2020) and SRM Securities, Incorporated (CRD#:13716), also of Los Angeles. He has been in the industry since 1998.
Trujillo has three FINRA actions in his CRD. The most recent is an eight-month suspension stemming from his borrowing money from nine customers totaling $335,000. Out of fifteen loans, he failed to sign promissory notes for seven. He has repaid nine of the loans and is currently repaying the remaining six. Trujillo also falsely claimed on Western’s compliance questionnaires that he never borrowed money from any of his clients. FINRA fined Trujillo $5,000 and suspended him from 10/17/2022 through 06/16/2023.
Trujillo also failed to obtain approval for these loans and failed to notify his firm that he borrowed money from the customers. Both are violation of the firm’s policies. After discovering the loans, Western International Securities terminated Trujillo’s employment on 10/26/2021.
Additionally, Trujillo was the subject of a previous FINRA disciplinary action in relation to a third prior action. This time, FINRA revoked his registration after he failed to pay $8,844.06 in fines and other costs imposed after a previous case.
In the case dated 11/17/2020, Trujillo was fined $20,000 and indefinitely barred for failing to supervise four employees in Financial West Group’s Brentwood office who engaged in excessive trading, churning, and other violations in nine customer accounts. Even after notification by a compliance official of the misconduct, Trujillo failed to address and investigate these red flags and allowed the misconduct to continue. His revocation in the failure to pay case was effective 01/07/2022.
The fifth disclosure in Trujillo’s CRD is a customer dispute involving unsuitability of recommendations in 2015. Dated 5/13/2016, Trujillo settled with the customer for the disputed amount of $45,474.00.
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