Commonwealth advisor arrested in child prostitution sting
A Commonwealth Financial Network advisor who's donated time and money to child victim charities was caught trying to meet a teenage girl for sex, police say.
Nathan Duane Oeming responded to an online posting by a detective pretending to be a 15-year-old girl as part of a child prostitution sting, according to police in Eugene, Oregon. The department’s special investigations unit arrested Oeming, 40, on Jan. 14 near a high school.
Commonwealth terminated Oeming the day after the arrest. The CFP and co-founder of his Eugene-based practice The Oeming Group faces charges of online sexual corruption of a child in the first degree.
“Police want to continue to raise awareness to this crime to prevent sexual exploitation and to help children and women who are victimized,” Eugene Police said in a statement.
Oeming couldn't be reached at the practice, where a staff member declined to comment and said no contact information for a lawyer was available.
Commonwealth spokeswoman Jacquelyn Marchand said the firm “immediately terminated his affiliation” as a result of the arrest. Commonwealth is the fourth largest firm in the independent broker-dealer sector, with more than $1.4 billion in revenue last year.
Oeming had been affiliated with Commonwealth since 2013 following tenures with D.A. Davidson, Morgan Stanley and Citi in his 15-year financial services career, according to FINRA BrokerCheck, which didn't yet reflect his termination on Thursday. He had no disclosures listed on the database, along with no disciplinary or bankruptcy history in the past 10 years from the CFP Board.
In an email, CFP Board spokesman Terry Poltrack said the certifying organization is aware of the charges. He declined to provide further details on Oeming’s CFP status based on the organization’s “long-standing policy of publicly commenting only on CFP Board disciplinary matters that have resulted in public discipline.”
He ran a financial blog and podcast called “Nathanomics,” described on its website as “an insightful and candid conversation about that taboo subject of money.” Oeming also serves on the board of several local nonprofits and raises money for area children organizations, according to a bio on the practice’s website.
The website and Oeming’s blog were no longer available Thursday, but cached versions of them were still viewable.
Oeming appeared as one of the “20 under 40” of promising young professionals named in 2014 by The Register-Guard of Eugene, according to the local newspaper. He has given money to the county’s court-appointed special advocate program for abused and neglected children, served as an advisory member of the finance committee for a nonprofit that helps victimized kids and coached a youth basketball team as a volunteer with the YMCA.
Kids First, the nonprofit where he assisted the finance committee, issued a statement on its website following the arrest.
“We are shocked and dismayed at this development, especially because Kids First is committed to providing support to children throughout our community who are victims of, or witnesses to, crime,” the statement said. “We want to assure the community that at no time during his involvement with Kids First did Mr. Oeming interact with children or families served by our center.”
Authorities released Oeming from Lane County Jail with a date to appear in court for an arraignment Jan. 28, according to the Lane County District Attorney’s Office.