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FINRA Suspends Broker Efrain Trujillo After Borrowing Money From Customers

Efrain Trujillo (CRD# 3106482) is a previously registered broker and investment advisor whose last known employer was Western International Securities, Inc. of Los Angeles, CA. His previous employers were Financial West Group and SRM Securities, Incorporated. Trujillo was in the securities 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.