Cypress, CA | January 13, 2026
Former Citigroup financial advisor Paul Oh (CRD# 5885535) was discharged from Citigroup Global Markets Inc. on June 27, 2025, following allegations of using discretion in trading on eleven unrelated customer accounts without contacting clients for pre-authorization. According to his FINRA BrokerCheck record, Oh is no longer registered as a securities broker and currently works as an Investment Advisor Representative at Balboa Wealth Partners, Inc. in Newport Beach, California. The unauthorized trading allegations raise serious questions about account management practices and client communication during his tenure at Citigroup’s Cypress, California branch.
Oh worked at Citigroup Global Markets Inc. from April 2019 until his termination in June 2025. His BrokerCheck record also includes a dismissed 2009 felony charge for possession of concentrated cannabis, though this criminal matter was resolved with no conviction more than 15 years ago.
BrokerCheck Snapshot
Name: Paul Oh
CRD #: 5885535
Former Firm: Citigroup Global Markets Inc.
Location: Cypress, CA
Years in Industry: 14+
Number of Disclosures: 2
Current Registration Status: Not Currently Registered
Termination from Citigroup Global Markets Inc.
Employment Separation After Allegations
Employer: Citigroup Global Markets Inc.
Termination Type: Discharged
Termination Date: June 27, 2025
Location: Cypress, CA
Allegations: Use of discretion in trading on eleven (11) unrelated customer accounts without contacting clients for pre-authorization.
According to the disclosure filed by Citigroup, Oh allegedly exercised discretion in trading across eleven separate customer accounts without obtaining pre-authorization from the clients. This type of allegation represents a serious violation of securities industry rules and regulations governing broker-client relationships.
The Severity of Unauthorized Trading Across Multiple Accounts
The allegation that Paul Oh used discretion in trading on eleven unrelated customer accounts without client authorization is particularly concerning for several reasons:
Scale of the Alleged Conduct: Eleven accounts represents a significant pattern of alleged unauthorized activity, not an isolated incident. This suggests systematic account management practices that allegedly violated industry standards across multiple client relationships.
Multiple Unrelated Accounts: The fact that the accounts were “unrelated” indicates these were separate clients who did not have any connection to one another. This distinguishes the situation from a family account or joint accounts where some shared understanding might exist.
Lack of Pre-Authorization: The specific allegation that Oh traded “without contacting clients for pre-authorization” suggests he may have executed transactions without obtaining the required permission from account holders before placing orders.
Understanding Discretionary Trading Authority
Under FINRA rules and securities regulations, brokers must have written discretionary authority from clients before they can make investment decisions without specific client approval for each transaction. The types of authority include:
Non-Discretionary Accounts (Standard):
- Broker must contact client before each trade
- Client must approve each buy or sell order
- Broker cannot execute transactions without explicit permission
- This is the default arrangement for most brokerage accounts
Discretionary Accounts (Special Authorization Required):
- Client signs written authorization giving broker trading authority
- Broker can decide which securities to buy/sell, quantity, and timing
- Firm must have supervisory procedures for discretionary accounts
- Enhanced monitoring required to prevent abuse
The allegation against Oh suggests he may have treated non-discretionary accounts as if they were discretionary, executing trades without the required client authorization.
Why Unauthorized Trading is a Serious Violation
Unauthorized trading violates fundamental investor protection principles and can result in:
Financial Harm to Investors:
- Unsuitable investments placed in client accounts
- Excessive commissions from trades clients never approved
- Tax consequences from unwanted sales
- Loss of investment opportunities when funds are improperly moved
Regulatory Violations:
- FINRA Rule 2510 prohibits discretionary trading without written authorization
- State securities laws impose similar requirements
- Violation can result in termination, fines, and industry bars
Loss of Trust:
- Undermines the fiduciary relationship between broker and client
- Clients lose control over their own investment decisions
- Damages the integrity of the securities industry
Pattern of Concern: Eleven Separate Accounts
The number of accounts involved in Oh’s alleged conduct is significant. While a single unauthorized trade might be attributed to miscommunication or error, allegations involving eleven unrelated customer accounts suggest a potential pattern that warrants serious scrutiny.
Questions raised by this disclosure include:
- How long did the alleged unauthorized trading continue?
- What types of securities were involved in the trades?
- Did clients suffer financial losses from the unauthorized activity?
- Were the trades suitable for the clients’ investment objectives?
- How did Citigroup discover the alleged conduct?
- What supervisory procedures were in place to prevent this?
About Paul Oh’s Background
According to FINRA records, Paul Oh has been in the financial services industry since 2011. His employment history includes:
Current Position:
- Balboa Wealth Partners, Inc. (October 2025 – Present) – Investment Advisor Representative, Newport Beach, CA
Previous Positions:
- Citigroup Global Markets Inc. (April 2019 – June 2025) – Financial Advisor, Cypress, CA (Discharged)
- Unemployed (July 2025 – September 2025)
- BancWest Investment Services, Inc. (January 2018 – May 2019) – Financial Advisor, Tustin, CA
- AXA Advisors, LLC (March 2017 – February 2018) – Financial Consultant, Irvine, CA
- J.P. Morgan Securities LLC (November 2012 – January 2017) – Private Client Banker, Irvine, CA
- Wells Fargo Advisors, LLC (March 2011 – May 2012) – Seal Beach, CA
Securities Licenses:
- General Securities Representative Examination (Series 7) – passed October 2017
- Investment Company Products/Variable Contracts Representative Examination (Series 6) – passed March 2011
- Securities Industry Essentials Examination (SIE) – passed October 2018
- Uniform Investment Adviser Law Examination (Series 65) – passed November 2017
- Uniform Securities Agent State Law Examination (Series 63) – passed March 2011
Paul Oh is no longer registered as a securities broker with FINRA as of his termination from Citigroup in June 2025. He currently operates as an Investment Advisor Representative at Balboa Wealth Partners, Inc., though investors should note that investment advisers have different regulatory oversight than registered brokers.
Quick Return to the Industry
A notable aspect of Oh’s situation is the brief period between his termination from Citigroup and his new position as an Investment Advisor Representative. According to his employment history:
- Terminated from Citigroup: June 27, 2025
- Unemployment Period: July 2025 – September 2025 (approximately 3 months)
- New Position at Balboa Wealth Partners: October 2025
This relatively quick return to the financial services industry, despite the serious nature of the allegations that led to his discharge, raises questions about due diligence processes and regulatory oversight in the investment advisory space.
Criminal Disclosure: Dismissed Drug Charge
Paul Oh’s BrokerCheck record also includes a criminal disclosure from 2009, though the matter was dismissed:
Charge Date: February 4, 2009
Court: Superior Court of the State of California, County of Orange
Formal Charge: Possession of Concentrated Cannabis (Felony)
Plea: Not Guilty
Disposition: Dismissed (March 22, 2009)
Sentence/Penalty: Case was dismissed
This criminal matter occurred more than 15 years ago when Oh was approximately 19-20 years old, well before he entered the securities industry. The charge was dismissed within approximately six weeks of filing, and Oh was not convicted. While brokers are required to disclose all formal criminal charges on their BrokerCheck records, this dismissed charge from 2009 should be viewed in its proper context as a resolved matter that predates his financial services career.
Citigroup Global Markets: Major Financial Institution
Citigroup Global Markets Inc. is the securities arm of Citigroup Inc., one of the world’s largest financial institutions. Despite robust compliance infrastructure and supervisory systems at major firms like Citigroup, individual broker misconduct can still occur. Under securities regulations, firms have a responsibility to:
- Supervise registered representatives
- Monitor account activity for unauthorized trading
- Implement controls to prevent discretionary trading without authorization
- Investigate red flags promptly
- Take appropriate action when violations are discovered
When brokers engage in unauthorized trading, both the individual broker and the firm may be held liable for investor losses. This is particularly true when firms fail to detect patterns of misconduct or have inadequate supervisory procedures in place.
Investors who experienced losses at Citigroup may have claims for failure to supervise in addition to claims against the individual broker.
Red Flags: Warning Signs of Unauthorized Trading
Investors should watch for these warning signs that may indicate unauthorized trading or other account problems:
- Unexpected transactions appearing on monthly statements
- Trades you don’t remember discussing or approving with your broker
- Securities you didn’t authorize appearing in your portfolio
- Selling investments you wanted to keep without your permission
- Frequent trading activity inconsistent with your investment strategy
- Changes to account settings you didn’t request
- Difficulty reaching your broker when you have questions about trades
- Vague explanations when you question account activity
- Pressure to sign documents without adequate review time
- Statements sent to the broker’s office instead of your home address
If you notice any of these warning signs, immediately request detailed transaction records and consider seeking legal counsel.
The Importance of Monitoring Account Statements
The alleged unauthorized trading across eleven accounts at Citigroup highlights the critical importance of investors actively monitoring their brokerage statements. Many cases of unauthorized trading go undetected for extended periods because clients don’t carefully review their monthly statements.
Best Practices for Account Monitoring:
- Review statements monthly when received
- Verify every transaction listed
- Question any trades you don’t recognize
- Compare current holdings to your investment plan
- Keep records of all communications with your broker
- Understand all fees and commissions charged
- Report suspicious activity immediately to firm compliance
Early detection of unauthorized trading can limit losses and strengthen potential recovery claims.
Can Investors Recover Losses from Unauthorized Trading?
Investors who experienced unauthorized trades in their accounts may be entitled to recover losses through FINRA arbitration.
Patil Law, P.C. has over 15 years of experience representing investors in FINRA arbitration and securities litigation, with more than $25 million recovered for clients across 1,000+ cases. We provide a free, confidential consultation to review your potential claim. Our firm works on a contingency fee basis, meaning you pay no attorney fees unless we successfully recover money for you.
About FINRA Arbitration
FINRA arbitration is a streamlined dispute resolution process for securities-related claims. It offers a faster, more cost-effective alternative to traditional court litigation. Most cases are resolved within 12-16 months. Claims generally must be filed within six years of the incident.
Related Brokers and Firms
For more information about complaints involving Citigroup advisors and related securities issues, see:
- Citigroup Advisors – Complaints & Disclosures
- Unauthorized Trading Claims
- Unsuitable Investment Claims
- Failure to Supervise
- FINRA Arbitration Process
Frequently Asked Questions
What are the allegations against Paul Oh?
Paul Oh was discharged from Citigroup Global Markets Inc. on June 27, 2025, following allegations that he used discretion in trading on eleven (11) unrelated customer accounts without contacting clients for pre-authorization. This represents allegations of unauthorized trading across multiple client accounts. Oh is no longer registered as a securities broker and currently works as an Investment Advisor Representative at Balboa Wealth Partners, Inc. in Newport Beach, California.
Can investors recover losses involving Citigroup?
Yes. Investors who suffered losses due to unauthorized trading at Citigroup may be entitled to recover their losses through FINRA arbitration. Claims can be brought against both the individual broker and the firm. Citigroup may be liable for failure to supervise if the firm did not have adequate systems in place to detect or prevent unauthorized trading. Investors should act quickly, as securities claims must generally be filed within six years of the alleged misconduct.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution forum specifically designed for securities-related claims between investors and brokers or brokerage firms. It provides a faster and typically less expensive alternative to traditional court litigation. Cases are heard by a panel of arbitrators with securities industry knowledge, and decisions are binding on all parties. Most FINRA arbitration cases are resolved within 12-16 months from the date of filing. The process involves document exchange, discovery, and a hearing where both sides present evidence.
What does “unauthorized trading” mean?
Unauthorized trading occurs when a broker executes buy or sell orders in a client’s account without obtaining the client’s permission. Under FINRA rules, brokers must have explicit authorization before each transaction in non-discretionary accounts, or written discretionary authority for accounts where they make ongoing investment decisions. Even a single unauthorized trade constitutes misconduct. The allegations against Paul Oh involve using discretion in trading on eleven separate accounts without pre-authorization, which would represent a pattern of serious violations if proven true.
How do I look up a broker on BrokerCheck?
You can research any broker’s background by visiting FINRA’s BrokerCheck website at brokercheck.finra.org. Simply enter the broker’s name or CRD number (for Paul Oh, it’s CRD# 5885535) to access their complete registration history, employment record, licenses, and disclosure events. BrokerCheck is free and provides information on both current and former registered brokers. It’s an essential tool for investors to research financial professionals before deciding to work with them or to investigate concerns about current advisors. Note that Paul Oh is currently “Not Registered” as a securities broker.
What should I do if I suspect unauthorized trading?
If you suspect unauthorized trading in your account, take immediate action: (1) Stop all communication with the broker and do not authorize any new trades; (2) Request copies of all account statements, trade confirmations, and correspondence for the past several years; (3) Document every trade you believe was unauthorized and note when you discovered it; (4) File a written complaint with the brokerage firm’s compliance department; (5) Consider filing a complaint with FINRA or your state securities regulator; (6) Consult with a securities attorney who specializes in FINRA arbitration to discuss your legal options. Time limits apply to securities claims, so prompt action is critical.
About Patil Law, P.C.
Patil Law, P.C. is a securities litigation firm dedicated to representing investors who have suffered losses due to broker misconduct, unsuitable recommendations, and securities fraud. Founded in 2018 by attorney Chetan Patil, the firm focuses exclusively on FINRA arbitration and investment loss recovery.
With over 15 years of combined experience in securities law, Patil Law has successfully recovered more than $25 million for clients across 1,000+ cases. Attorney Chetan Patil earned his law degree from Case Western Reserve University School of Law. Attorneys Gabriela Dubrocq and Patricia Herrera earned their law degrees from University of Miami. The firm handles cases nationwide involving unauthorized trading, churning, unsuitable investments, breach of fiduciary duty, and failure to supervise.
Patil Law works on a contingency fee basis, meaning clients pay no attorney fees unless the firm successfully recovers money on their behalf. All consultations are free and confidential.
Time is Critical: Six-Year Statute of Limitations
Securities arbitration claims are subject to strict time limits. Under FINRA rules, claims generally must be filed within six years of the date of the alleged misconduct. For clients of Paul Oh at Citigroup, the clock may already be running on potential claims.
If unauthorized trades occurred in your account between 2019 and 2025, you may still have time to file a claim, but delay could jeopardize your rights. Don’t let the statute of limitations expire on your claim.
Were You a Client of Paul Oh at Citigroup?
If you had an account with Paul Oh at Citigroup Global Markets Inc. between April 2019 and June 2025, you should:
- Review all account statements for unexpected or unauthorized transactions
- Calculate total commissions paid during the period
- Identify any unsuitable investments that appeared in your account
- Document all losses you may have suffered
- Contact a securities attorney to evaluate potential claims
Even if you didn’t notice problems at the time, unauthorized trading may have caused losses that are recoverable through FINRA arbitration.
Contact Patil Law Today for a Free Consultation
If you lost money in trades you did not authorize, or if you had an account with Paul Oh at Citigroup and have concerns about unauthorized trading, contact Patil Law, P.C. today for a free, confidential consultation. Our experienced securities attorneys can review your situation and explain your legal options.
Call: 800-950-6553
Email: info@patillaw.com
Website: investmentlosslawyer.com
There is no cost and no obligation. We’re here to help you understand your rights and pursue the compensation you deserve.
Disclaimer: The information in this post is based on FINRA BrokerCheck records and public filings. Allegations described are pending or unproven and may be contested. All investors are entitled to fair treatment under securities laws. This is attorney advertising. Prior results do not guarantee a similar outcome. This communication is for informational purposes only and does not create an attorney-client relationship
