Authorities in Oregon have arrested a former Commonwealth broker, Nathan Duane Oeming, as a result of a sting operation regarding child prostitution, according to the local government.

“As a result of Mr. Oeming’s arrest, Commonwealth immediately terminated his affiliation on January 15, 2020,” according to a company spokesperson.

His registration with Commonwealth ended Jan. 16 this year, or two days after his arrest, with no explanation for his departure, according to BrokerCheck.

On January 14, Oeming, 40, allegedly agreed to meet with a special investigations detective who was posing online as a teenage girl, according to eugene-or.gov, the website of the City of Eugene, Ore., City Manager’s Office.

A Eugene Police School Resource officer and the Eugene Police Department special investigations unit took Oeming into custody and charged him with online sexual corruption of a child in the first degree, the website writes. He was booked into the Lane County Jail, according to eugene-or.gov.

Authorities released Oeming on his agreement to appear in circuit court on January 28, according to Lane County District Attorney Patty Perlow, The Register-Guard writes.

The Eugene YMCA, where Oeming was a volunteer basketball coach, sent an email to parents notifying them of the “troubling news,” according to the paper.

Kids FIRST, a nonprofit organization helping child victims, where Oeming served on the finance committee as an advisory member, also issued a statement about the arrest, saying they were “shocked and dismayed at this development,” The Register-Guard writes, citing the statement.

Oeming joined the financial services industry in 2004 and came to Commonwealth Financial Network in 2013, according to his BrokerCheck profile.

He is also president of The Oeming Group, which he formed with his father, according to The Register-Guard.

Oeming has no disclosure events on either his Finra or SEC records. He could not be reached for comment for this article.

With additional reporting from Mrinalini Krishna