{"id":10931,"date":"2023-01-09T13:06:13","date_gmt":"2023-01-09T18:06:13","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10931"},"modified":"2023-01-09T13:06:13","modified_gmt":"2023-01-09T18:06:13","slug":"finra-suspends-broker-efrain-balderrama-trujillo-again-after-borrowing-money-from-customers","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-broker-efrain-balderrama-trujillo-again-after-borrowing-money-from-customers\/","title":{"rendered":"FINRA Suspends Broker Efrain Balderrama Trujillo Again After Borrowing Money From Customers"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10932 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/01\/Blog-Graphics1.png\" alt=\"Efrain Balderrama Trujillo (CRD# 3106482) is a 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\u2019s 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\u2019s policies. After discovering the loans, Western International Securities terminated Trujillo\u2019s employment on 10\/26\/2021.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/01\/Blog-Graphics1.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/01\/Blog-Graphics1-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Efrain Balderrama Trujillo (CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/3106482\" target=\"_blank\">3106482<\/a>) 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. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-broker-efrain-balderrama-trujillo-again-after-borrowing-money-from-customers\/#more-10931\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-10931","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Suspends Efrain Balderrama Trujillo For Borrowing Money<\/title>\n<meta name=\"description\" content=\"Efrain Balderrama Trujillo is a broker and investment advisor whose last employer was Western International Securities of Los Angeles, CA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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